S&P (e-mini ) 26th MAY 09 recap

"Trading between the week 50% levels (support) and the 5-day 50% level (resistance).

My ideal pattern would be for US markets to move into the 5-day 50% levels & then continue down into Support (Weekly 50% level)"

Premium Trader



S&P Weekly and 5-day pattern

Same pattern as last week, rising up from Support and will probably continue higher.

My Day trading set-up was for an early rise up into the 5-day 50% level and then trade down into Weekly support, instead price moved down early and rose up from Support.

With only a few days to go until the end of the month, US markets look like continuing up towards the June highs without pulling back into the monthly 50% levels.


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