S&P (e-mini ) 10th August 09 recap

S&P 500 is beginning the trading week with a higher Weekly open and trading below the August highs.

I have only 1 view of the market, and that’s a pullback towards the Weekly 50% levels over the next 2 weeks.

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S&P Weekly and 5-day pattern

Choppy trading day on Monday & small range day.

I expected more weakness on Monday or at least a lower daily close below the 5-day 50% level.

At this stage My view hasn't changed, but it looks like US markets could consolidate until the FED meets later this week.


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