S&P (e-mini ) 24 FEB 2010 Daily recap

"Expectation US markets are going higher, along with the price action trading above last Week's Weekly highs

However, I still have the view that US markets are currently in a 2-day stall pattern.

For the 2-day stall pattern to play out it needs to be trading below the 5-day 50% level and spiking down into Tuesday's lows (1093)"

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S&P Weekly and Daily range.

As per Weekly report, expectation that this week would begin with a 2-day reversal, and the 2nd day reversal pattern has played out with Tuesday’s lows holding support.

Based on current price action I would have to favour a move towards the Weekly highs by Friday.

Price now needs to be trading above 1098 and cross-over the Daily 50% level on Wednesday to confirm my view.






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