S&P (e-mini ) 12th November 2010 Recap

"There are two possible patterns for Friday using the daily lows as a trend guide & Support

#1. Remains within the daily range using Friday’s lows as support @ 1195:- 8.5 points. ($425 USD)

#2 Resistance the Daily 50% level and channel lows @ 1208"

S&P Weekly and Daily Range

S&P moved down into Friday lows @ 1195 and reversed back upwards, providing an initial 8.5 range upward move and then a continuation back into resistance levels:- 1208

Market high @ 1208.50 once again provided another 8.5 range reversal and lower Weekly close, as the market rotates down from a higher weekly open from the November highs @ 1217.50

Also helped by the 'Dilernia Drop' in the forward Weekly cycle: probability suggests a lower weekly close....as per previous book " the trader Trading"





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