S&P (e-mini ) 27th August 2010 recap

Thursday has closed below the weekly lows @ 1053, therefore it favours a move downward.

However, based on the channels in the 5-day pattern there is a possibility that Friday swings back towards 1067.




S&P Weekly and Daily Range

Early resistance around 1053 did push Friday downward, however the Weekly lows continued to provide support  this week, and a late swing back above 1047 sent Friday towards and higher daily close.

Weekly report out later




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