S&P (e-mini) 26th January 09 recap

"As per the Weekly report, there is a possibility of a higher Weekly close after 3 weeks down

No probability pattern on Monday, other than using the levels in the 5-day pattern"

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S&P Weekly and 5-day pattern

S&P rising up from support on Monday & moving back towards the Weekly 50% level at the start the new week.

I didn't have a probability pattern for Monday's, other than using the levels in the 5-day pattern, but I was surprised by the strength shown in the S&P.

Monday's highs formed resistance, resulting in sellers appearing around the highs.

The Weekly 50% level is still the trend guide for the last week of January.


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