S&P 500 Futures Contract E-mini 12/11

The morning session has been of the bullish variety with investor sentiment supporting an upward move in stocks across the board. The S&P E-mini December futures contract climbed as high as 1,203.75 in the European morning session, registering its low at 1,184.75 during the Asian session overnight, & currently at the time of writing nestled just above the R1 pivot level at 1,196.50. Slovakia are expected to pass the vote on the EFSF expansion this afternoon at some stage. This in addition to the decent earnings from Pepsico cancelling out the Alcoa slight miss yesterday, & the positive Industrial Production figures out of Germany this morning should contribute towards a continuation of the current upward trend. As such, I favour a long bias this afternoon, with a continuation of this mornings move upwards.

STRATEGY LONG ENTRY STOP 1ST TARGET 2ND TARGET 1,188.25 1,184.00 1,194.50 1,202.25

KEY LEVELS 1,203.75 1,202.25 1,196.00 1,194.50 1,188.25 1,184.00 1,182.00 Morning High R2 R1 Yesterdays High Pivot Overnight support S2

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