Homework for Monday 2009.01.05

4. January 2009
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ES - Time to start hitting the markets hard again.  If we keep continuing up, 933 may pose some temporary resistance (Gann 360+180+45 and trendline).  This will pose a double top.

Underlined levels have confluence with both intraday levels and daily levels, as well as a pivot point or HLC. 

 DAILY

UP: 933 (H,180+60), 948.25, 963.75

DN: 917.75 (PP,45), 902.75 (S1,90), 892.50

ROTATION: 909.75  925.50 (C)

INTRA-DAY 

UP: 933 (H,D180+60), 943.25 (R1,180+90), 958.50, 974 (R3,360)

DN: 917.50 (PP,D360+180), 912.75, 902.50 (S1,90,D360+90+45), 892.75 (U/D)

 

Summary 12:21 CST - Friday's close seems to be working best as a rotation level, 925.50.  This puts a 100% rotation down at 917.75, which is right inline with the numbers from above and the bounce we have seen so far today.  A 100% upward rotation is all the up at 964!  I couldn't come up with a good choice last night, so I just used Friday's rotation level above.  Updated.

Homework

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