E-Mini S&P: Heading Toward 2009/11
Jason Sen | Dec 18, 2014 03:01AM ET
Emini SandP 500 key to direction today is obviously 2009/11. It looks like we ended the correction yesterday and will need a break above here today to continue the recovery and target 2016/2017 then 2025/2026. Any further gains meet strong resistance at 2029/2031 today. A high for the day expected but shorts need stops above 2035.
Failure to beat 2009/11 should trigger a move lower towards 2000/1999 and perhaps as far as good support at 1994/1992. A low for the day possible so try longs with stops below 1986. However be ready to go with a break lower using 1992/1994 as resistance for a move towards 1981/80.
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