S&P (e-mini ) 3 FEB 2010 Daily

"As per last week's report there is an expectation that there is a possible higher Wednesday close.

I also mentioned that because of the Weekly timeframe still trading within the January timeframe, this could see a 5-day pattern that consolidates and swings within the Daily range until Friday"

S&P Weekly and daily range

There were two possible patterns on Wednesday...

A:- moves down on open and back into the daily 50% level and continues higher:- Higher Wednesday close

B:- moves up in early trading and reverses back down into the Daily 50% level.

Neither played out.

At this stage this week looks like a consolidating 5-day pattern into Friday within the daily range.







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