S&P (e-mini ) 18th September 09 recap

"These Weekly highs are seen as resistance

At this stage price is range bound between both Weekly highs (brown and Green), and because of this pattern I don't have a probability pattern on Friday"





S&P Weekly and 5-day pattern

Expected small range day on Friday between both the Weekly levels.

There was an expected breakout on Wednesday to complete the September high move @ 1062, this resulted in a breakout and extend pattern in the 5-day range into Thursday's highs (resistance).

Friday simply drfited back down to retest the breakout and verify support.