Monday, March 16, 2009

ES kisses the 34e


The ES (S&P futures) kissed the 34e moving average(thin orange line circled) and came close to the monthly p at 775.75(yellow line). Stochastic are now overbot (red/yellow line lower chart). I'm looking for a pullback to test the 20 sma 731(yellow line). I feel this rally could go up to the 50 day moving average(blue line) @795 and possibly the open gap at 820 / Mr1 823.