S&P (e-mini ) 6th July 2010 Daily recap

Breakout from last week @ 1037 extends down towards this week's lows by Friday.

Random resistance 1026.75



S&P Weekly and Daily range.

Tuesday has seen a move upwards and a retest of last week’s breakout @ 1037.50.

The reversal pattern aligned with a 3-day cycle highs and price has been pushed back down.

There are two possible patterns that are going to play out this week…

Continue back towards the Weekly 50% levels….

Or follow my view of a move downwards by Friday, as part of the break and extend pattern towards the July lows.





Posted by