S&P (e-mini) DOW 28th August 08 Recap

"US markets moved higher on Wednesday stalling at the Weekly 50%...

No 'hook' pattern on Wednesday so I don't have a view of higher prices...

Therefore there is no probability pattern.

At this stage I don't have a view on direction on Thursday other than trading the levels"


Morning report



S&P Daily

Wednesday's up move from support and stall below the Weekly 50% level didn't provide a 'hook' pattern, so there was no view on Thursday's direction.

It was simply trading on the side of the levels, and once above the Weekly 50% level price moved back towards the 5-day highs once again.