THE MORNING REPORT – www.EMissTrade.com
Trading Day: MONDAY – November 29th, 2010
OVERVIEW:
I hope everyone had a nice Holiday weekend. The day after Thanksgiving was interesting. With a shortened trading day the market chopped early and then quickly sold off during the last hour to close on its lows…What’s this telling us? I think the jury is still out on this one. It could be there is more downside come or maybe the tension over North and South Korea coming to blows…or there is uncertainty over the bailout of Ireland. Nonetheless we will have to wait to see how Sunday night shakes out to get a gauge on how the market feels about all that is going on.
For MONDAY:
No News on Monday, however it will be a news filled week so we expect movement this week…which is good for trading. One thing to note…we traded within the previous weeks range so I am expecting a breakout of that range. Both Short Term and Long Term indicators have turned bearish. – Watch you target numbers below and be patient Monday. Watch @emisstrade for more updates during trading hours. Be on your toes.
TRADE LESS – EARN MORE
@emisstrade
www.emisstrade.com
TREND:
SHORT TERM TREND: BEARISH
LONG TERM TREND: BEARISH
TARGETS NUMBERS: ESZ0
***1211.75 – Friday’s High
1210.50 – 11/12 Gap
***1206.75 – Last Week High
***1200-1203 Area
***1193.25 – Yesterday’s High
<<>>
***1182.50 – Yesterday’s Low
1179.00 Area
***1174.00 Last Week Low
***1170.50 – 1172.00 Area
1167.00 – 1168.00 Area
*** – Area could provide Major Support/Resistance to price
Disclaimer
There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. EmissTrade.com, its officers, directors and its contributors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. There is a substantial risk of loss in trading futures and options.
