S&P (e-mini ) 13 Nov 09 recap

"2-day reversal from the highs and lower target is the 3-day cycle lows (white)

However, Friday is going to begin the day above the 5-day 50% level, which at this stage doesn't confirm the 2nd day reversal pattern

If price is above the 5-day 50% level then it's a random pattern with an upward bias"

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S&P Weekly and 5-day pattern

Expectation of a 3-day rally and 2-day reversal for this week nearly played out except for Friday.

I know my 5-day patterns and higher timeframe levels quiet well, and when Thursday didn't close below the 5-day 50% level, there was a bias to have an UP day, whilst remaning around the higher timeframe resistance levels.

Weekly report out later





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