S&P (e-mini ) 12th MAY 2010 Daily recap

"This week's expectation was a 3-day counter-trend move to retest the previous Weekly lows breakout.

Above the MAY 50% levels, then it becomes a random pattern with an upward bias"

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S&P Weekly and Daily range

3-day counter-trend move into Wednesday has completed, and now it gets interesting.

As per my Weekly report on the 8th MAY….

"I have seen these exact patterns continue higher and move into a 3-day UP move to retest the previous Weekly lows.

That means that by Wednesday price can be trading above the MAY 50% level, but from Thursday onwards look for a move back down."







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