S&P (e-mini ) 11th Dec 09 recap

"Normally a HOOK pattern will retest the Weekly 50% levels (Green) and continue into a higher weekly close.

Use blue channel support in the 5-day pattern"


S&P Weekly and 5-day pattern

Slow trading day with a upward bias, after Thursday's HOOK pattern.

With the March contracts running at a discount to the current spot futures and next week's expiry, this can often push prices lower.

However, whilst the March contracts are trading above the Weekly 50% levels, the expectation is that prices will continue higher next week, and follow the monthly dynamics


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