Levels and Trade Plan Wednesday 22 April 2015
Today we will be using 90-92 as our bull bear zone. If ES can hold above this area we may see a continuation to the upside. Note the rapid sell off and retracement during globex - this may be percieved as a flushing of stops before a move higher. With this in mind selling resistance at 2100-2102 and 2103.75 - 2105.75 will require a perfect intraday setup. Below the bull bear we have support at 2082.50-2080.50 and 2075.25-2073.25.
It looks like ES will open within yesterdays value area giving a neutral context however we must be cautios after the sudden move down and up in globex.