Pre market review 4-1-11 Friday :)

News: NFP @ 8:30AM, ISM Mfg Index @ 10AM, Construction spending @ 10AM

Daily chart notes: Daily is in an uptrend and put in a bearish candle then a doji candle. we had an inside day yesterday.

Trade plan: ES has had a pretty strong move up off the lows from the Japan disaster. We are consolidating at an area where we could expect responsive sellers to be active on the higher time frame. The past 2 days have sat in a range and yesterday was an inside day. So we could expect a break of this consolidation possibly today. We have a few important economic releases today which could be the catalyst for a move out of this area. So far i have pre market resistance at 1325.50-1327.50 and im expecting sellers to be active there. A break above that area will bring a few strong resistance areas into play above. We have initial resistance at 1329.50-1331.50 and strong resistance at 1332.50-1334.00 where i expect sellers to active as well. For the down side i have pre market support at 1319.50-1321.50 and initial support at1314.50-1316.50 where i expect buyers to still be active due to still being in an uptrend. Over all i have to gauge the response by the market to the economic releases today and play it like that. If we break down pretty hard the 1309.50-1311.50 level should cut the selling off if not then i will not be look for longs below that area until we get down to 1295-1300 area where i expect selling to shut off at. Last thing to note we have a neutral weekly IB and we are at the extreme highs of the week and at strong resistance. It is likely that we get a full rotation back don't to retest the lows of the week at  1300 area.