S&P (e-mini ) 20th September 2010 recap

The Trend guide on the S&P this week is going to be determined by the weekly level @ 1116.50.


Either price continues towards the Weekly highs @ 1144, or a the reversal pattern towards the weekly 50% level during the first 2-days this week.


S&P Weekly and daily range.

As per weekly report, my view was for this week to start with a 2-day reversal pattern back towards the Weekly 50% level and Tuesday’s daily lows.

The ideal pattern was an early rise upwards from 1116.50 and for the 2-day reversal pattern to begin from 1128 back down into 1113.

Instead Monday has followed the Weekly pattern upwards, breaking out of the daily highs, and likely to push higher on Tuesday





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