S&P (e-mini) 16th March 2010 daily recap

a 2-day reversal on US markets would normally have Monday closing higher and Tuesday selling down from the 5-day 50% level.

Tuesday's open in relation to the 50% level (below) will normally sell down and move towards the Tuesday lows.

first target Yellow filter @ 1138.




S&P Weekly and daily range

Expectation of a 2nd day reversal didn't play out on Tuesday instead pushing price back towards the highs.

Normally a 2nd day reversal would play out precisely based on the previous 2 days of price action (friday's highs and Monday's higher daily close).

With Tuesday selling down into the Weekly 50% levels.

Current trend is to continue into higher highs in April.



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