S&P (e-mini ) 7th June 2010 Daily recap

"Whenever the market moves into the daily lows on Sunday during globex hours, the market more often than not swings back towards the 5-day 50% level on Monday…

Random resistance @ the 5-day 50% levels"




S&P Weekly and Daily range.

Monday's trading was based on the break and Extend pattern in the 5-day range from Friday, and the next day swings back to retest the break along with the 5-day 50% level.

Price failed to reach the daily 50% level (precisely)

Normally I would view today as an UP day, however as you are aware my expectation price is moving down into the June lows…:- 2 month wave pattern.






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