S&P (e-mini ) 27th April 09 recap

"With Weekly 'drops' appearing in the market, I just simply can't be bullish on US markets at the start of the trading week.

These Weekly drops (lower tops) favour lower prices this week... (lower Friday Close)

If you're not short from Friday's highs, then it makes it hard to Short Monday until Support breaks"

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S&P Weekly and 5-day pattern

Supprt didn't break on Monday, instead resulting in a consolidating trading day on Monday.


S&P and US markets remain supported above key levels, but those Weekly 'drops' appearing (lower Weekly highs) this week is normally a sign that there is probability of a lower Friday close this week compared to higher Friday closes that have been occuring over the past number of weeks

But it won't happen unless support breaks.


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