S&P (e-mini) 4th January 2011 recap

There is a break out of the Monday highs, therefore there's an expectation that the trend will continue towards Tuesday's highs (random resistance)

trend guide @ 1262.75



S&P Weekly and daily range

my view is that a daily range breakout would normally continue towards the following daily highs.

Instead the S&P dipped down into the trailing channel high @1258, resulting in choppy trading day aroubd the highs





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