S&P (e-mini ) 14th Dec 09 recap

"Based on last week’s trading and Friday, I would favour upside whilst above the 50% levels, and with the expectation that price is trying to complete the 2-month wave pattern into December highs, which match the 4th Quarter highs in the S&P @ 1126

There is no probability pattern to suggest another 2-day reversal down this Monday and Tuesday"



S&P Weekly and 5-day pattern.


News from Dubai's $10 Billion loan hit global markets before the S&P had opened and it had already completed the move into Monday’s highs, resulting in the rest of the day consolidating around the top in the 5-day range.

As pointed out in the Weekly report and Monday’s report, I’m not expecting this week to reverse down on Monday and Tuesday compared to the previous week’s expectation.







Posted by