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

"A bullish day would find support around the 50% level, but at this stage I can't see that support translating to further gains and a rally into Wednesday's 5-day highs.

Note:- If FED cuts rates there could be a rally on the news, but keep in mind that Wednesday's 5-day highs is seen as resistance"

Premium Report





S&P Weekly and 5-day pattern

With the S&P trading below the Weekly 50% level on Wednesday, it was hard to see further gains unless the FED cut rates.

Once the FED cuts rates the S&P and DOW rallied to the Wednesday highs, stalled, and then reversed back down.....

This Week's trend will be defined by the 5-day 50% level on Thursday....




  • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html



    • Posted by