S&P (e-mini) 2nd February 09 recap

Expectation US markets are heading down in February:- resistance the Weekly 50% level.

Random support on Yellow could see US markets move up towards the Weekly 50% levels, but I can't see too much more upside above those levels on Monday:- 5-day 50% levels.

Below Yellow and it's down into Monday's lows...


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S&P Weekly and 5-day pattern

As per Weekly report, looking for a continuation down into February's lows, but Monday remained in a tight consolidating pattern between support levels and rising late in the day looking for the move back into the Weekly 50% level.

Whilst price remains below the Weekly 50% level the bias is down.




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