Mid-day $ES_F Recap. 09/28/10

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From earlier:

Expecting a range day depending on how the market reacts to consumer confidence.  1145.50 is a significant area to the upside and yesterdays high was 1149.75 look for resistance to become support.  Below 1130.50 things could get ugly.  We tested that area overnight.  Looking to sell highs and buys lows.

We have a gap today below at 1137.75 (edited from 1147.75) and  below at 1105.00 from awhile ago.

Consumer Confidence at 9 CT

Bond auctions at 10:30 CT and 12:00 CT.

No more numbers for the day. So far we are still range bound. The consumer confidence did take out the area of support 1130.50 and quickly regained its footing. This market should make a solid attempt at yesterdays highs of 1149.75 if it gets above the 1142 area. I do not anticipate the market trading back below the 1137 area.