Tuesday, May 22, 2012

ES ~ Globex Update ~ 22 May 2012

This morning the ES is slightly higher. We're now already approaching my second target at 1321 (SPX 1323). I mentioned yesterday that this level is a pretty strong resistance for the ES. In the chart below you can see why:

If 1321 is breached chances increase that ES 1287.25 was an important low. The next target after 1321 is the 1340-45 area.