Homework for Tuesday 2009.01.13

12. January 2009
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ES - The ES is nearing an area where we could bounce; a 360° move down from last Tuesday's high.  We are already seeing a sign of it from the end of Monday and the overnight action.  So, time to be careful and see what the overnight action gives us for a hint of direction.

We have been riding the 873 level for the past few hours; definitely causing some resistance.  This is a level to watch for in the overnight action. 

 
 
6E - Euro.  We made a slightly lower low today from last Tuesday.  I am hesitant to move my intra-day pivot levels yet, since the current levels still seem accurate.  So far, we keep bouncing off the 1.3280 level.  I'm hoping for a move up to 1.3376 to give a little more force downward.
 

Homework

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