S&P (e-mini ) 13th MAY 2010 Daily recap

"Today is Thursday, and if my analysis is correct based on repeating patterns that means US markets should close lower by Friday.

The 4th day sell pattern on Thursday’s higher open and not rise beyond the 3-day cycle @ 1175"



S&P Weekly and Daily range

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."


This week has followed a number of probability patterns with the 3-day UP move to retest the previous Weekly low breakout (3-day counter-trend move) and then ‘sell’ on Thursday.

However, normally Thursday has a much greater range on the downside (trading below the monthly 50% levels @ 1148-52 and also the Daily 50% level.

At this stage price is still trading above those levels, therefore a lower Friday close isn’t set in stone.

Any further weakness on Friday and likely reversal pattern is towards the Weekly 50% level @ 1127 & daily lows









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