S&P 500 daily 17th June 2009 recap

US markets continue down confirmed with the Weekly 50% level, as part of a move towards the Monthly 50% levels.

Ideal pattern on Wednesday would be to continue down towards Wednesday's lows.

5-day 50% levels resistance.

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S&P Weekly and 5-day pattern

US markets continue down on Wednesday but remained trading around Tuesday's lows.

With Price trading around Tuesday's lows and not breaking the previous day, the ideal pattern would have been early buying back up into the 5-day 50% on Wednesday level and then short-trade the move down once again.

Instead Wednesday remained choppy either side of the yellow filter.


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