S&P (e-mini ) 3rd November 2010 Recap

Weekly & Daily highs resistance

Random support @ 1187.

I’m not expecting a down day on Wednesday.


S&P Weekly and Daily range

After yesterday’s price action I wasn’t expecting a large down day on Wednesday.

The market drifted into support levels @ 1187 and then news came out that the FED wants to start printing 600 billion dollars to stimulate the economy, which spooked the market

After the news came out I was surprised to see the Market stay up. History tells us that when governments start printing money it doesn’t always turn out well.

Current price action suggests the S&P continuing towards 1202.50

And market dynamics can see the trend continuing this month towards 1217.50






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