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Morning Brief3 03

Morning Brief3 03

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Published by Eli Radke

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Published by: Eli Radke on Mar 03, 2011
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09/10/2013

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March, 3 2011
Source: CQG, Inc. © 2011 All rights reserved worldwide.
Morning Brief by Anthony Crudele       
Yearly High   2-18-2011 134300
 
Yearly Low    1-03-2011 1255252010 Closing Price 1253002011 Opening Price 125600
Top of Value  131025Bottom of Value 130300TPO Point of Control132875High Volume Bar 130800
Prior Day’s
Settlement130100Average TradingRange1907
10 Day Moving Average 131630
Prior Day High 131375
20 Day Moving Average
131996Prior Day Low 129625
50 Day Moving Average
129385Weekly High 133650
200 Day Moving Average
116648Weekly Low 129625
E-Mini Daily
138000
135850
133675
131500 Pivot
129350
127175
127175
E-Mini Weekly
138450
136975
133900
130825 Pivot
128625
124675
121600
S&P CashWeekly
139261
136981
134701
132420 Pivot
130140
137860
135744
The bears are losing the little momentum that they had.  I have felt that the recent action in the S&P has been strong consideringwhat has been going on with Crude Oil and the Middle East.  We come within striking distance of the 50 day moving average andthen we start to rally, that is bullish action.  Today we are poised to open above the daily pivot at 1315.00 which is bullish.  I will bea buyer as long as we can stay above 1315.00.  Unable to hold 1315.00 we can trade back down to 1293.50.  Volatility is high withthe VIX trading around 20 and it is rollover which also causes high volatility in the markets so I am trading smaller than normal.Data this morning with Jobless Claims came out a little better than expected which sparked a small pop in equities.  We have ISMcoming out later and consensus is 59.0, I believe only a number above 65 or below 58 will move the market.  I will be keeping myeyes on Crude Oil and listening for any news coming out of the Middle East.

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