OUTLOOK: MARKET OPEN 3/25/12

BOT TRADING SYSTEM

A few thoughts.

• The ES 60m is at the upper end of the recent trading range 1383-1395.   There is the potential for this to continue with a double top reversal.  The extended watch will be a BO of this range.
• The weekly ES has formed an "R" reversal pattern.  Think of the lowercase r. we have a run bar with a smaller reversal bar above the 50CB level. 
• The daily is trapped between the EMA and resistance at 1407+/-
• The 5m push to form a LBBO was at the end of the day when books are cleared.  The reason we do not hold over the close is the risk that this is artificial and a PB to the "boxed" area  reported in the previous post is likely to hit.

Enough uncertainty not to hold longs over the close, and not jump in on low volume moves at the open.  New Break Out Targets will be calculated only if the market PA  can maintain a price > BO-5 of the current BOT range.  Range runs will be favored until PA shows a return to extended BO's.

CURRENT ES CALCULATED RANGE:  1393-1391.75-1389