S&P (e-mini ) 30th April 09 recap

"As this stage a breakout of the 5-day highs on Wednesday and expectation is that price is heading towards Thursday's highs.

Weekly highs Resistance &

I've been factoring in a lower Friday close on US markets this week"

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S&P Weekly and 5-day pattern

S&P Reached its Weekly highs with Thursday's UP move after Wednesday closed above the highs:- break and extend.

Thursday's reversal down and lower daily close helps set-up a lower Friday close, with the pullback target 843 in the short-term

However, that down move on Friday will depend a lot on the 5-day 50% level, which is currently supporting today's lows @ 864.

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