S&P (e-mini ) 3rd August 2010 recap

We have similar patterns as last week, hitting the Weekly highs

I’m looking for a 1-day reversal pattern during the week:- towards 1102-1109



S&P Weekly and Daily range

Tuesday ends up being an inside day without the continuation down into support levels:- 8.5 rotations

Last week reversed down from the Weekly highs and into Friday’s lows, however this week I have the view that the market is going higher, but only after the completion of a 1-day reversal and lower daily close.

I don’t think Tuesday’s trading is that 1 day.





Posted by