Emini S&P 500 Futures Market Update 7/9/09
The emini S&P 500 opened trying to hold value at 879.25 but after an hour of chop, buyers could not hold the market up any longer and sellers stepped in pushing the market below some very critical lower levels of our long term consolidation bracket. As discussed in our trading chat room, buyers stepped in at the 866 level and held the market for the majority of the afternoon and pushed it back up to 879.25 level just before close. This was an impressive sign for buyers.
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| S&P 500 Emini ES Futures Market Market Profile® TPO number’s: | ||||||||||||||||||
| UVA (Upper Value Area) | 875.25 | |||||||||||||||||
| POC (Point of Control) | 871.25 | |||||||||||||||||
| LVA (Lower Value Area) | 866.50 | |||||||||||||||||
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Posted: July 9, 2009
Category: Market Commentary
