S&P (e-mini) DOW 3rd Ocotber 08 recap

"Trading below the monthly 50% levels and expectation price is heading down into the Monthly lows.

Friday:- Breakout of channel support yesterday and price normally continues down into support the next day.

The most robust pattern would be an early rise in the 5-day 50% level, and then continue down"

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S&P Daily and 5-day pattern

Friday ends up following the pattern of 5-day 50% level rejection within the 5-day pattern, which is also part of the higher timeframe pattern of moving down into October lows.



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