Your MUST-READ Morning Stock Futures Cheat Sheet: Range trading

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The Precise Take –  Range trading

Big Picture Analysis – Yesterday, after a brief dip below 1340 in the ES, traders again rallied to positive territory, but could not close strong.  On the daily combined session chart, the ES has strongly rejected ~1340 support three times now.  Resistance looms up to ~1370, but a push above could see a quick pop for another ten handles.  Conversely, if support  finally breaks, another strong down leg should commence.  No major news today, though a speech by Bernanke will be released on the opening bell.

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