S&P (e-mini) 23rd March 09 recap

"Monthly 50% levels resistance, & Blue filter support in the 5-day pattern

Bias to move upwards..."

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S&P Monthly and 5-day pattern

US move upwards on Monday breaking the resistance levels of the Monthly 50% levels and heading towards the March-April highs.

This pattern should continue to play out, as part of the Double Monthly bottom in the market in March and probable 25-30% up swing rotation back into the higher timeframe 50% levels

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