S&P (e-mini ) 20th October 09 recap

Two patterns on Tuesday:- Tuesday highs random resistance.

If Tuesday moves up into the highs early then I favour a push back down into the 5-day 50% levels.

If Tuesday moves down into the 5-day 50% levels, then these levels are support zones for a push towards the Tuesday highs.


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S&P Weekly and 5-day 50% level.

Early push down into the 5-day 50% level saw buying towards the highs on Tuesday.

Around the highs saw a move back down into the 5-day 50% level and then down into the support levels and more 5-day pattern rotation.

This will probably continue until the end of the week, with a bias to complete the October and Weekly highs.


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