S&P (e-mini ) 16 November 2010 Recap

Market is coming down from the November highs and trading below the Weekly 50% level.

Tuesday is either going to find random support around 1183…

Or it’s going to breakout as part of the larger reversal pattern towards the November 50% level @ 1161


                                               S&P Weekly and Daily range.

Monday’s daily close below the weekly 50% level help set-up further weakness with a breakout of the daily lows on Tuesday…

as the market rotates down from the November highs towards the Weekly lows and the November 50% level @ 1161



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