Pre Market TAO Tues 9-01-09

Overnight ES Futures traded down to 1010 support level I have on Friday's chart.
This is also a Key upward trend line support for the July rally. I don't think the US equity markets will follow this overnight market into the daily session. But this is a Holiday week and trading will be erratic. Asia was up and Europe is down.
US Dollar is holding to a bit of strength.

we have Construction and ISM reports due at 10 am est and Autos at 2 pm est.

The buyers are starting to step aside and let the markets find a settling point I would be careful trying to short sell here it looks like we could make a push up to the Spx 1030 this Am.

My plan today is to Buy the SPY 101.75 Dip at the opening low Spx 1010 and exit about Spx 1027- 30 ...Spy 102.75

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10:00 am est.... If you went long at the open this is the place to go for the exit Spy 102.80