DOW S&P Trading 16th June 2008 Recap

Next Week:- Ideal pattern in both markets is a continuation higher on Monday into the 5-day highs, which match the Weekly 50% level, and then push back down into support.

So the expectation is selling pressure around the Weekly 50% level (5-day highs).

If US markets are going to continue higher into expiry then price should then rise up off support and look for a 'HOOK' day back inside the Weekly 50% level.

A 'HOOK' day will favour a continuation upwards into Friday.... Weekly Report


S&P Daily

US markets moved up into the Weekly 50% level, which matched the Monthly 50% level and was pushed back down into support....

Tuesday will now either provide a 'HOOK' day, or will follow the weaker trend downwards.

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