S&P (e-mini) 9th February 09 recap

"US markets closed higher on Friday along with the S&P closing above the Monthly 50% level: at this stage I favour an UP move on Monday.

Because of the breakout of Friday's highs, I would favour a higher move from yellow support zones towards Monday's highs"

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S&P Weekly and 5-day pattern

S&P moved down into Monday's support, which aligned with February's 50% level and continued up towards Monday's highs.

Based on the current price action expectation this should continue up on Tuesday towards the Weekly highs.

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