S&P (e-mini ) 25 FEB 2010 Daily recap

There are two possible patterns that can occur for the rest of February.

1. Follow my view of heading higher into the Weekly highs by Friday

2. Choppy price action for a number of days (consolidation until March)

Thursday consolidates, which means prices moves down into the lows.



S&P Weekly and Daily range.

My preferred pattern was to see Tuesday’s low support price and then continue higher from Wednesday, Thursday & then Friday into the Weekly highs @ 1121.

However, selling during Globex hours before the cash market opened set-up a push downward in the lows.

Thursday ended up moving down into the Daily lows, which matched the lower Weekly 50% level @ 1086 and we end up with a consolidating pattern within the 5-day range until March begins. (next Week)





Posted by