S&P (e-mini ) 1st Dec 09 recap

"Start of December and the bias is to continue towards the December highs @ 1126

This could happen from today and move upwards over the next 3-days....

Whilst above the blue channel @ 1094 it’s up in the S&P 500"

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S&P Weekly and 5-day pattern

After last week’s reversal into the Weekly 50% level on Friday the bias was to continue higher in December with a target @ 1126

This was based on the 4th Quarter target from October, that now has a matching monthly target in December at the same level.

Today’s trading had a bias to move upwards and back into the Weekly highs.

These highs @ 1112 will either resist price and push the market back down into a consolidation pattern until the end of the week....

Or continue with a ‘3-day UP move’ and complete the target @ 1126 this week.


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