DOW E-mini 17th March 2008


DOW and E-mini Daily charts.

US Futures have moved down into the Weekly lows during the night session.

Keep in mind that this report is being written at midnight US time, and over 8 hours before the markets open on Monday. (day session)

Weekly lows are Risk levels for Monday, which can support the market early, but I think price will continue down on Monday, with the same pattern of heading down towards March lows.


In Sunday's trading US markets rallied, with the DOW futures rallying up from 11919:- Support.

Now on Monday we have a break of Sunday's support and the expectation that US market's are pushing lower into the Support levels on Monday.

In conclusion:- Early support Weekly channel lows, as shown in the Daily charts

Resistance 5-day 50% levels in both Markets, which matches the break down of Sunday's support.

And a push down into Support levels, as markets move down towards March lows in both the DOW and S&P.