Adonis has Left the Building

We arrive this morning to find there’s been yet another wave of violence in Greece over proposed austerity measures and some French banking warnings.  This has the Euro in a tizzy and most likely will lead the S&P.

On the flip side of that, the US Dollar is seeing some buying and the 10 DMA, 20 DMA and 50 DMA now will act as support.  Interesting turn of events here and a good reason to suggest that we may finally be seeing the start of a pullback in gold and a return of the silver parabola crush.

ES futures are already at S1 (down 12 pts) and if this area of 1270 doesn’t hold, I think we see 1250 by week’s end.

Pivots today:

  • R2 -1300
  • R1 – 1292.25
  • PP – 1274.5
  • S1 – 1270.5
  • S2 – 1257

Trade ’em well today and trade the extremes!

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About thefront9

Independent trader with a flexible approach to the markets. Position trading, swing trading and day trading using Futures, Equities and Options. This site is intended to help others (and myself) see what I see and to stay true to the discipline of making trades at the extremes. Contrarian and TastyTrade addict! Living in Texas with my family, helping others and maybe playing some golf from time to time makes life busy and great. Add a little music and humor and that just about sums it up. Trade the extremes and manage risk.....always!
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