Monday, March 26, 2012

Monday afternoon S&P500 thoughts and Charts

By Hedge Ly | 3/26/2012 01:36:00 PM |

Updated post close - 1414.5 traded.. nice rally into the close. the 15 min chart below followed my arrow.

5 min ES
30 min ES_F
we got the pinch over 1392.50 as i highlighted FRIDAY converted into 1395 which converted into 1407.50. once again a chart pattern coincides with an outside catalyst in the market. (Bernanke hinting at further QE this morning) .. over 1407 we go to highs for 2012 june contract of 1408.  Chart from earlier this afternoon below the jump

5 min ES
15 in ES

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