S&P (e-mini ) 2nd March 2010 Daily recap

"At this stage I'm treating US markets as range bound between the Weekly highs @ 1120 & 1132

The Tuesday’s highs match the Weekly highs, which could result in a push back down into the monthly 50% levels"



S&P Weekly and daily range.

S&P has pushed up into the resistance levels on Tuesday but lacked any follow through on the downside.

There is a potential for this week to continue higher (towards 1132-38) based on monthly dynamics, but I would like some short-term price rotation into intra-day support levels on Wednesday before any UP trend continues thereafter.

Short-term I would like to see during globex hours price to continue down towards 1109






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