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Market Update, 2010.02.05

5. February 2010
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ES Weekly: Looking at the largest pullback we had since the March 2009 lows (the June/July 2009 pullback, left blue arrow) and take an extension of that from our recent highs, we have a 1:1 pullback at 1054.50.  We hit this area last night.  Next level of support at 1029 lines up well with the pullback in November of 2009 (green line).

 Below that, we could see a return to the 875 area.

 

 
 

Market Update