S&P (e-mini ) 25th June 09 recap

"At this stage S&P is trading below its Weekly 50% level and on their monthly balance points (RED)

With today's higher open I would still continue to focus on the short side: - Sell higher Daily open and resistance.

Don't short trade above the 5-day 50% levels on Thursday"

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S&P Weekly and 5-day pattern

S&P started Thursday with a sell off on the higher daily open and selling down from the 5-day 50% level...

I wasn't expecting an UP day on Thursday, but was mindful that if price moved down but reversed back above the 5-day 50% level there was a good chance that price would move back towards the Weekly 50% level..

Thursday closes on the Weekly 50% level @ 916, which is the trend guide for this week.

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