Morning Take $ES_F 11/10/10

We have a tight range overnight.  Range from 1213 to 1208 with a potential gap at 1211.00. Anything below 1199 and above 1231 would be considered a breakout in volatility.   Banks are closed in the US tomorrow which could lead to some things getting done today.  Yesterdays low was 1206.25 and we took out the high of the year by a tick to 1224.75.  I will be looking for support to become resistance and resistance to become support.  I have a slightly bullish bias going in but reserve the right to change.  Opening range will be significant,

Releases and Speakers

10:30 ET Nat Gas

11:00 ET Oil

1:00 PM ET 30 yr

2:00 PM ET Treasury Budget

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Afternoon Take $ES_F 11/09/10

The opening range was the high of the day to start. We filled the gap and than rallied to the...