Market trades back to the Delta Zone of resting inventory resistance

By FulcrumTrader · September 10, 2009 · Filed in Daily Review

The ES rallied today under low volume as futures followed the strength in equities with the dollars added decline. While equities and commodities remain strong into the dollar breaking down we had a slow grind up day for the ES. The S&P500 Emini was able to trade back to the Delta Zone of 1035.00 to 1038.75 just ahead of rollover to the new ES contract. I am looking at continued strength in the ES as the dollar drop helps support equities and commodities at this time. So far commercials in futures are still holding short inventory into this equities strength.

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