S&P (e-mini ) 24th August 2010 recap

Support 1053-1055 with a possible swing into a higher daily close.

However, there is a larger trend pushing the S&P from 1098.50 towards 1022 during August.



S&P Weekly and Daily range.

This week was either going to remain within the Weekly ranges with the Weekly lows providing support once again and more consolidation

Or it was going break support and continue to trend down towards lower August support levels.

Tuesday's price action and breakout of the daily lows suggests more weakness in the short-term.



Posted by