S&P (e-mini ) 22 October 09 recap

"At this stage I'm still treating US markets as range bound within the 5-day patterns, and even though October highs are seen as resistance, I'm not factoring a major reversal down this week.

I would have to treat US markets heading down into Thursday's lows.

Around Thursday's lows is a random support pattern, that could swing price into a higher daily close"

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S&P Weekly and 5-day pattern.

S&P continues to rotate within the 5-day range.

There was early resistance, but sadly price didn’t move down far enough on Thursday to get the ideal swing set-up for the higher daily close.

US markets should continue into higher prices on Friday.






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