Tuesday, May 4, 2010

S&P 500 ~ Pre-Market Update 4 May 2010

Europe is selling off. Most of the European indices are down more than 1 %.

The ES is currently down about 10 points and only a few points above Friday's low.

It seems as the ES is tracing out a triangle (3/26 to today). A break below 1183 would be bearish while a rally above yesterday's high would be bullish.

Edit: ES below 1183, next stop last Tuesday low.

Edit 2: ES at last Tuesday low.. let's see if we bounce here or go lower.