S&P (e-mini) DOW 15th August 2008 Recap

"Everything about the US markets based on this week's price action looks to be heading higher on Friday.....Friday will open higher, and if there is a slight fade then use the Yellow support zones in each market (1291)...

There is major resistance around these upper levels, based on the June Breakout, the Monthly 50% levels, and also the Weekly highs...."

Yesterday's report


S&P Daily and 5-day pattern.

S&P found support @ 1291 on Friday, but lacked any buying strength.

This UP trend in US markets were dependant on how well Friday would rally and close.

Friday didn't rally and didn't breakout of the resistance levels...

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