S&P (e-mini) 27 March 09 recap

"Expectation the S&P is are going higher towards 850, but that might not happen until next week.

Thursday UP move should have resulted in a 5-day breakout and rally towards those highs.

Therefore even though I think US markets are going higher, there could be a 3-day sideways pattern until the first of April before the UP trend continues"

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S&P Weekly and 5-day pattern

S&P trading above the Weekly highs, with the view that price should kick up towards 850 next week.

However, I'm still leaning towards US markets drifting lower over the next two days into the start of April before a potential last 'bit' UP move, and then my view is that global markets will reverse back down.

Over the next two days, US markets can remain above the March 50% levels, but ideally I would like them to come down into the 5-day lows find support and then continue upwards.


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