DOW Futures 10th June 2009 recap

"US markets supported after the first 2 days of trading, along with price trading above the MAY highs, there is now an expectation that the 3rd day will continue higher towards the June highs.

Normally I would look to the 5-day highs as a short, and it could resist price today"

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DOW Weekly and 5-day pattern

With Wednesday starting above the 5-day 50% level the only conclusion I could see was a push up into June highs along with a move towards Wednesday's highs.

The push upward didn't move high enough to take any short positions, and I didn't expect Wednesday to play out as it did.

US markets trading within a tight 5-day pattern and back around the 5-day 50% level, to close out the day.

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