S&P (e-mini) DOW 29th Sept 08 Recap

S&P Daily and 5-day pattern

Break of support early on Monday before US markets opened, and once the 5-day lows broke it was a free fall down into recent lows.

As pointed out two weeks ago, the lows in the market have to be verified by the October 50% level, and being the last day of the month on Tuesday, traders should know by the close of September 30th, how far October can continue down.

And once again the 50% level will determine the strength of any trend in the last Quarter.



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