S&P (e-mini) 3rd February 09 recap

Bearish this month, as it's trading below every timeframe 50% level.

Ideally I would have liked prices coming down from a higher Tuesday open and the Weekly 50% level....

Trade on the side of Support (Yellow).

Above and it's back into the Weekly 50% level:- resistance

Below it's heading down into Tuesday's lows.

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S&P Weekly and 5-day pattern

S&P started the trading day below support with the expectation of heading lower.

But I also pointed out, it would be more ideal for US markets to be trading down from the Weekly 50% level.

Once above support, the S&P moved back towards the Weekly 50% level and stalled...

Now it gets interesting for Wednesday's trading.







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