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

"US markets trading below their Monthly lows( blue channel)....

And even though US market found support on Friday, there is still more downside to go..."

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S&P Weekly and 5-day pattern

Price action tells the story....

5-day 50% level along with the March lows resistance, pushing the market back down towards Friday's lows...

Any further weakness would follow the Weekly timeframe towards the Weekly lows...





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