Sp500 Future (ES) Charts (04/09/14)

1.  This is a good day for bulls.  ES closed above the important PL and it avoided 3 closes in a row below PL.  PL is very flat and range is still the dominant force here also indicators are mostly neutral to slightly bullish with today's action.  A swing to the upper channel and test new high is likely.

2.  PL has just crossed TBL and it is up sharply from a flat base.  The short term direction is up now and indicators are all in bull camp now.  ES is just under the 68.5 resistance.  Below 50 will be bad for bulls and below 44 will be serious.  So watch those levels if you are a bull.

3.  RS levels:  88.5, 81.5, 77, 74, 68.5, 64,  56, 50, 44-5,  40,  34.5,  28,  23， 11.5



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