DOW S&P Daily 18th MAY 2009 recap

"US markets currently supported around their Weekly 50% levels.

An up day would be towards the midpoints and a higher daily close"





DOW S&P Weekly

US markets opened on the Week's 50% level, a lower Weekly open, and around the 5-day lows providing a probability of an UP day and a higher Daily close.

But I'm even surprised about how far US markets moved up on Monday.

An ideal pattern would have seen US markets stall and close below the 3-day cycle highs (White line), providing a higher Daily open and short-sell on Tuesday, as price is coming down from the MAY highs.

Above the 3-day cycle highs, and Tuesday looks like a small range day.


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