The MIB Futures had a very tight range during the week as it has for over a month now. Currently, this is going to be very difficult market for longer-term biased traders to be trading. However, we have cleared levels such as the 15,000 level that would get us involved in this marketplace. If we can get below 15,000 on a daily close, we would become aggressively short of this market.
On the other hand, if we can get above the 16,500 level, we think we could begin to build momentum to finally break above the 17,000 level. If we get above that 17,000 level, this market would suddenly become a very bullish market.