Thursday, March 11, 2010

Let Me Guess

With 3 hours left in the trading day, I'm guessing we'll stay in a range of 4 points, from 1137 to 1141.  The dip buyers were very aggressive today, we hardly traded any volume below 1135 (June ES) before rocketing up from those levels.  It still feels like there is underneath demand, but there is eagerness to buy at higher levels. 

We should get a 1% down day either Friday or Monday, before the FOMC meeting on Tuesday March 16.  So I will stay short.

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