S&P (e-mini ) 3rd September 09 recap

"Bearish because of the break of Weekly support with a view to move down into the Weekly lows and September 50% levels

However, there is a change in the 2-day cycle, that could result in an UP day"

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S&P Weekly and 5-day pattern

With Wednesday not retesting the Weekly 50% level or the 5-day 50% level for a continuation down, the day after normally has an UP day rising up from the 2-day support pattern.

Price at this stage remains below support (trend guide), and Thursday's UP day has failed to move back above critical levels....


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