S&P (e-mini) 25th February 09 recap

"US markets have reversed up from their Weekly lows, and there is now an expectation that price is heading towards the Weekly 50% level.

This can also be part of a last week counter-trend move towards next month's 50% level in March.

Trend Guide 5-day 50% level on Wednesday..

Below the 5-day 50% level and expectation is price can come down into Support and then bounce higher"

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S&P Weekly and 5-day pattern

US markets opened higher and moved down into the Support zones and reversed upwards.

I was looking for Wednesday to remain above the 5-day 50% level and continue towards the Weekly 50% level by Thursday.

In late trading Futures were sold down.

It looks like the US markets will consolidate for the next 2 days into the end of the month and will probably continue down in March, as the Monthly support levels in February shift lower.





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