S&P DOW Trading 24th June 2008 Recap

"US markets are pushing down from the previous Weekly breakout, with the expectation price will move lower into the next weekly lows :- breakout and extend

Often that move downwards occurs after a 2-day stall reversal pattern, yesterday was the first day, and Tuesday is a 2nd day.

Yesterday we can see price continue down on Monday from the breakout of the 5-day lows from Friday, but the move wasn't as far as I hope it would.

Today.....

Whilst above support price is moving up into the resistance levels, these resistance levels have a random outcome on whether price stalls or not

I don't have a high probability pattern on Tuesday, as the next pattern will be on Wednesday.

Premium Report....



S&P Daily and 5-day pattern

Tuesday pushed down into the 5-day low reversing back up into Resistance and moving into a 2nd stalling pattern.

Tuesday's move down into the 5-day lows completes the breakout range from Friday's 5-day lows:- break and extend, which was the pattern I was looking for to complete on Monday...


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