February, 16 2011

Morning Brief by Anthony Crudele
Yesterday we came up just short of testing support at 1320.50. This is a bullish sign when the market cannot test support areas because traders are buying in front of support. The market ended up making new highs in the overnight session taking out resistance at 1330.75. The S&P cannot spend any time on the lows intraday nor can they test support. Strong, strong, strong. Until we start testing support you have to stay with the longs. Today I am watching to see if we can sustain trade above 1330.75. If it does, we should trade up to 1341.25. We have a decent amount of data today including the FOMC Minutes which should move the market around. I am sticking with the long side up to 1341.25 unless we cannot hold 1330.75 then we could trade back down and test support at 1320.50. I included a chart of the XLF to show you that they broke out yesterday by taking out their two year highs at 17.12. I believe this important for S&P traders because we move with the financials more than any other sector.

E-Mini Daily • 135000 • 134125 • 133075 • 132050 Pivot • 131025 • 129975 • 128950

E-Mini Weekly • 136525 • 134125 • 131775 • 129425 Pivot • 127075 • 124725 • 122375

S&P Cash Weekly • 136180 • 134025 • 131890 • 129754 Pivot • 127619 • 125483 • 123348

Top of Value Bottom of Value Point of Control High Volume Bar Prior Day’s Settlement Average Trading Range

132675 132425 132700 132725 132625 1097

10 Day Moving Average 20 Day Moving Average 50 Day Moving Average 200 Day Moving Average
Yearly High 2-15-2011 Yearly Low 1-03-2011 2010 Closing Price 2011 Opening Price

131982 130381 127610 115419

Prior Day High Prior Day Low Weekly High Weekly Low
133275 125525 125300 125600

132925 132225 133275 132450

February, 16 2011

Source: CQG Inc. 2011 All rights reserved worldwide.

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