Quick S&P500 Chart update
|5 min ES|
As you can see we rushed into new 2012 highs @1329.75 from 1325 post cash open though the new highs were faded very quickly. i tweeted 1330-1340 could be nearing exhaustion 5 handles before 1329.75 traded. i did not think the trade would come as fast as it did.… perhaps this is the case as CL GC 6E and ES all came off their highs together. A correlated market on upside is an even more correlated market on the downside.
1320 broke.. if 1319 fails.. 1315 and we languish most of the afternoon until the close IMO.