Market Outlook Dec 24 2010

Market Outlook

On Dec-23-2010 a candlestick formation confirmed a sell signal.

Our Reco: ==> Sell this contract at 5868 or better. Stop at 6023.




Next Day Trading Ranges : Key Resistences (R) and support aread for 24th dec 2010

The [R3] or the most extreme high trading range is 6044.
The [R2] or the extreme high trading range is 6025.
The [R1] or the high trading range is 6002.
The [P] or pivot point is 5983.
The [S1] or the low trading range is 5960.
The [S2] or the extreme low trading range is 5941.
The [S3] or the most extreme low trading range is 5919.

In this particular case if the price rises above 6025 then that would show momentum against Our short position and that would be a break out to the upside.

No signs of downward momentum at this time.

If the next day's close is below 5913 then that could be a sign that new downward momentum is beginning.

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