S&P (e-mini ) 26 Nov 09 recap

"US markets continue to fail to reach the 5-day highs and Weekly highs.
Based on the current price action Thursday's support levels would be the trend guide today.

1097.50 is the critical level on the S&P 500


Below support is a random pattern, that may or may not move down into the 5-day lows"

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S&P Weekly and 5-day pattern

Break of support and rotation down into the 5-day lows and moving down into the Weekly 50% level, which is what I've wanted to happen earlier in the week.

US markets closed for public holiday, but it didn't stop the futures markets reversing down, as part of a rotation towards the higher timeframe 50% levels nearing the end of the month.

Once again I was hoping for the 5-day highs to reach on either Wednesday or Thursday

Any futhur upside will need to be verfied by a lower Weekly open and support.



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