Monday, October 1, 2012

Caution this October

The Dec ES Yearly R3 pivot point is still resistance. The new monthly R1 pivot is at 1472. October is normally a green(up) month. It has only been down 3 of the past 11 years. But I still feel we need to retest the old resistance of 13300 and 1425. Maybe even retest 1400 before the rally kicks in again later in the month. It feels like the market wants to go to 1530 by the end of the year.