S&P (e-mini ) 22nd December 2010 Recap

Tuesday didn't reverse down into the daily 50% level, but instead it has remained above Tuesday’s highs.

Therefore the trend can continue towards Wednesday’s highs:- resistance 1255.




S&P Weekly and Daily range.

S&P has followed Wednesday’s pattern into higher highs, but once again little or no selling has appeared around these dynamic resistance levels in the 5-day pattern.

S&P has reached the December highs, and ideally we would like to see a reversal back down into trailing support levels

However, the DOW is still short of those highs by 100 points, and this will result in the S&P hanging around these highs coming in the Christmas break



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