Trade and Commentary Wrapup - 20080513

9:35 FWLT and ENER good daily charts to watch for cont upside intraday today
9:38 FWLT didnt even bother to pause so far
9:43 FWLT hitting first ressitance
9:47 ENER not bothering to hold up
12:43 fwlt is creeping higher (11:48 - $73.56 setup, 12:21 $73.68 2nd entry trigger)
13:18 fwlt nice :) (from later breakout)
13:18 resistance in here with the 75 zone



9:39 WIRE also good daily for more upside to keep an eye on ... thinner though
9:45 (break 9:43 23.76) wire first resistance into 24
12:38 WIRE again at new highs.. looking really good
13:25 go wire go :) (24.78)
13:26 wire 25 resistance (trading in zone at 24.93)



9:42 the ES opened smack into some fib resistance and held it perfectly... been selling off since

9:43 think someone mentioned FLR, but also good daily for more upside



9:52 most opening gainers not holding up

9:57 NQ coming into 15 min 20 sma support

10:00 biz inventories .1% vs .5% estimate

10:02 YM three waves lower on the 100 tick into support here

10:43 NQ pushing up against yesterday's highs (also reversal period)
10:51 NQ back to intraday lows.. once again seeing higher volume on the selloffs today than the buying

11:02 NQ support 11:00 correction period
11:18 futs moving slowly off the support ES hitting 5 min 20 sma

12:07 futs resistance

12:23 WRNC can easily trend higher throughout the afternoon. watch out though because it can have some nasty flushes
13:22 wrnc hitting some resistance into 51 (from 50.60)



12:30 futs at next resistance (1997 NQ, 1403 ES)

12:56 futs at initial support from the reversal (1993 NQ, 1400.5 ES)

13:49 futs 5 min resistance three wave up on the 100 tick