Thursday, December 2, 2010

Dec 2nd Morning market Preview

what looked to be a pretty calm after hours session with a rise to 1212 on the ES has turned volatile due to some less than encouraging Unemployment Claims at 436K vs expected 425K as well as the ECB President and Vice President speaking.

S&P 500

the ES was very well defended at 1202, which should hold for the day... if not look for 1196.25. market still looks very bullish.

it appears to have made a reversal candle on the 15min chart.


Gold held up well as the ECB President and Vice President were speaking, the 1385 zone held up as support instead of resistance. a close above 1396 will be very bullish. look to buy pullbacks today


the EURUSD has been on a wild ride, up over 100 pips last night only to fall over 100 pips as the ECB leaders began to speak. providing a great area to get long.

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