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2/3/2012 1:39:02 AM
Our Thoughts For Friday February34, 2012
The markets consolidated on Thursday following Wednesday's breakout of a bull-flag on the daily chart. The move was weaker than expected for me as I was expecting more follow through from Tuesday. It could be a sign that the markets are overextended here in this resistance zone but i am still looking for us to inch highe north of 1330 ES though so i will remain bullish for Friday. Lets see if we can get a good gap down to trade or some early weakness to test the 1313 area which is still a key Fib area and could set us up for a snap back trade. Other than that we should be prepared to trade early breakout as well. Good trading and we will talk to you soon.
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