S&P (e-mini ) 16th October 09 recap

"The UP day on Thursday has completed the 3-month cycle patterns @ 1092.

Around these levels I would look for a reversal.

Break of support (yellow) and downside target is the 3-day lows, or price will close around the 5-day 50% level"


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S&P Weekly and 5-day pattern

Reversal on Friday and a close in the middle of the 5-day range.

There is a lot of resistance around 1092, however next week is based on a trading range between the Weekly highs and the Weekly 50% level.

It's a simply process of looking for patterns and set-ups within the 5-day range to trade those moves.




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