S&P (e-mini ) 21st April 2010 Daily recap

"Double top on the monthly highs, with the expectation that price is moving down, as the month comes to a close"



S&P Weekly and Daily


Expectation of a double top and reversal pattern is slowly taking place.

However, I was a little disappointed that Price hadn’t made its way towards the Daily lows on Wednesday, as this is the usual pattern that occurs in double top and monthly reversal patterns….

April 15th Report…..

"The first sign is Thursday failing to move higher than the highs and Friday ends up back down into the Weekly 50% level.

This will normally see Monday support @ the Weekly 50% level and a push back upwards forming a "double top."

If that double top forms then next week’s view is a trending patterns towards 1133 (3-month 50% level)” ..... Premium Report

From that report 7 days ago the market has acted precisely to this point, however the sell-off on Wednesday only took place once the cash market closed.

I would be far more confident in the trend continuing down if Wednesday had moved into the daily lows.

That might still happen during after hours, but it normally happens during cash market hours, and continues to trend downward into a lower friday close.






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