End of day review 3-30-11 Wednesday

Es gaped up and found support again and went higher for the majority of the day. There was one good opp at lunch time that i missed at 1325 area after breaking above the 1324-1325 level. I didn't have the 1319.50 level on my chart so i wasn't looking at it as an opp to get long there. My concentration was on the long side around 1318 area but price never got there so i sat back and waited. Over all we built value higher but we are at the edge of bigger value and we could see longer term sellers step in here to take it down. I will review after globex session tomorrow morning. And i will do my levels tonight to see where i want to trade.

Pre market analysis 3-30-11 Wednesday

News: Nothing major out today

Daily chart notes: ES has been trending up with small pullbacks

Trade plan: ES regained all the losses it had on Tuesday and added some more. Above the 1309-1311 level I'm expecting more upside over the next few days. We still have resistance levels above that are pretty strong and with ES extended up so much over the past few sessions I'm expecting a breather and a balanced session today. Globex put in a low at support level 1313-1315 and has been trending higher most of the night with the 1325-1327 area stopping the buying. We built acceptance at 1321.50.  I have pre market support at 13201-1322 and also at 1317-1318.50 and 1313-1315 where i expect buyers to be active. Initial support comes in around 1309.50-1311 which is a key area with the cvpoc being there. With the bullish context i will be looking for longs at support areas on pullbacks. I will be looking for short opps depending on what type of day unfolds.