REVIEW OF THE LEVELS 7/1/13

Quick review on the levels.  Levels were in prior to the open and we had a bull bias with some early news. 

[08:17] <CM> current es  1610.5-1605.5-1602.25

[09:03] <CM> 9am buys all majors  ym es tf nq

[09:22] <CM> news   push higher

[09:33] <CM> 13 area roughly +20 off support noted last evening around 93


[09:50] <CM> pb held at lb  bo-5 likly now 
[09:56] <CM> bo-5 on news

[10:18] <CM> can see a pb to prior level bo5  have 2 50cb levels as well  (link deleted)


[11:27] <CM> bo-5/50cb held  new selling noted at hod test (near bo-10)   (link deleted)

B1 developed a 50CB and PA held at the 50CB and the LB.  The minimum expectation on a level break out is a +5 run.  At the BO-5 we saw another 50CB suggesting another level BO to BO-10.

When a level fails (or we see a PA stall) we look for a PB to the prior level.  BO-10 was a FBO and PA broke both of the prior 50CB TL's and the actual 50CB.  With PA EMA negative, we expect selling into the range and look for a range run to the opposite level.

[11:41] <CM> ema sellers
[11:44] <CM> consider 1617-17.5 now

[11:50] <CM> move to 18
[11:50] <CM>   3m ema