GannFiboTrader
2008-Apr-18, 06:08 AM
S&P Update for Friday, April 18
ES min June contract
I mentioned from last update that the S&P should not break 1326 level or at worst scenario 1318 zone, if a possible new high is in the horizon. Indeed it consolidated at the 1325 and it rallied with strength. The end of today’s session confirmed the strength by passing 1372 mark, this means there is great possibility this wave will pass the previous high of 1389 made on April 7th.
Target for this wave is around the 1404 zone.
Strong resistance is nearby (1382-1390).
Strong Support: 1353 zone and 1339 zone.
Next week should be very positive week for the Market.
Trade with care and always use a stop loss.
Happy trading
ES min June contract
I mentioned from last update that the S&P should not break 1326 level or at worst scenario 1318 zone, if a possible new high is in the horizon. Indeed it consolidated at the 1325 and it rallied with strength. The end of today’s session confirmed the strength by passing 1372 mark, this means there is great possibility this wave will pass the previous high of 1389 made on April 7th.
Target for this wave is around the 1404 zone.
Strong resistance is nearby (1382-1390).
Strong Support: 1353 zone and 1339 zone.
Next week should be very positive week for the Market.
Trade with care and always use a stop loss.
Happy trading