S&P 500 support

Good Morning Flatbookers. Ahead of the ECB rate decision (1245 GMT), US core retail sales and US unemployment claims(1330 GMT), we will remain on the sidelines. Here at the flatbook, we seek to negate being stopped out of a position due to market noise and short-term volatility. However, we do see a prospective entry long at 1034.5 should we get there post 1330 GMT. Our stop will be very tight at 1027.5. There has been enduring ascending support as of mid-March 2009 and this provides the fundament of our 1034.5 play. Secondarily, RSI on the D1 chart is facing up and so is bullish.

Profitable trading Flatbookers!



"Frankly, I don't see markets; I see risks, rewards, and money." Larry Hite