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Keene Little : 11/13/2006 1:30:42 AM

What price does on Monday is a real toss-up for me. I could easily justify a move in either direction. I can also see the continuation of a consolidation pattern that started after last Tuesday's high. Assuming we get a least a little more bounce to the move up that stated Friday afternoon, I get an upside target for ES at 1387-1388 which is where the bounce that started from Friday's low will have two equal legs up (at 1387) and the broken uptrend line from Sept 11th is located at 1388. Link

We could easily rally on up to the Nov 7th and 9th highs near 1393 and then pull back again as part of the consolidation pattern (which would start to look bullish). But if the 1387-1388 level holds as resistance then we could see a further pullback to the uptrend line from July, currently down near 1376. The daily chart looks like it's rolling over and that has me leaning a little more bearishly after an expected bounce on Monday morning.

Keene Little : 11/12/2006 11:58:51 PM

Monday's pivot tables: Link and Link

OI Technical Staff : 11/12/2006 9:59:59 PM

The Market Monitor has been archived. You may view it and any previous days here: Link

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Marc Eckelberry : 11/12/2006 5:02:12 PM

NQ, QM and ZB setups: Link

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