Morning Es Trading
Friday's relatively in-line employment report, with a 155,000 increase in payrolls and a 7.8% unemployment rate, resulted in a quiet session -- though the action was still incrementally bullish. Here are two points of interest regarding Thursday and Friday's trading in the E-mini S&P 500 futures: We continue to see bearish rejection in the low-1460s, but demand has remained intact back near 1452. In the immediate term, it's reasonable to expect buyers to focus on pushing the Es above 1462.50. Meanwhile, sellers are likely to remain largely sidelined until the contract begins to slide below 1452, and remain beneath that level.
My own inclination is to remain responsive as momentum stalls near both areas of interest, with fading seen at both 1462.50 and 1452. But, as prices are either accepted above 1462.50 or rejected beneath 1452, I'll want to more actively consider trading in the direction of the break....299 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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