S&P (e-mini ) 1 FEB 2010 Daily

"It's a simple case of using the Yellow level as a trend guide, along with the Monthly 50% levels.

IF Monday moves upwards (above Monthly 50% levels @ 1087) and has a higher daily close near the Weekly 50% level @ 1094, then it might have another 2-days of UP moves"

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S&P Weekly and Daily range

Last Week in the Premium Report I mentioned:- (29th Jan 2010)

“We are trading around support levels, and if certain price patterns occur in US markets on Friday (don’t break the Daily lows), an UP move has a random length that's either going to stall at the February 50% levels or close above them.

There is a potential 3-4 day rally from this Friday into Next Thursday's open”


S&P has had 1 day upwards and closed below the Monthly 50% level (1087).

At this stage the expected 3-day rally would normally continue towards 1094 and not stall at the monthly 50% level.

However, this is going to depend in overnight Futures action.

If Monday fails to continue higher than 1087 when the cash market opens, then I would look for more 5-day pattern rotations until then end of the week (sideways), with a downward bias.

If Monday futures continues up towards 1094, then it’s a different scenario.







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