S&P (e-mini ) 21st MAY 09 recap

"Two day stall above the 3-day cycle highs, should in theory continue into a higher daily close

short-term pullback into blue/Yellow support zones

Today it's all about trading on the side of the 5-day 50% levels"


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S&P Weekly and 5-day pattern

I was expecting an UP day on Thursday based on this week's patterns, especially the
2-day stall above the 5-day 50% level.

The pattern I was looking for was a move down into channel support and then for price to move above the 5-day 50% level and conrinue back towards the highs

Instead price broke support on Thursday and moved back down into the Weekly 50% levels.