S&P (e-mini ) 21st Feb 2011 Daily recap.

if below 1339.25 (channel highs), then it's part of a 2-day reversal pattern, which is a continuation of last week's 2nd resistance @ 1339 and a 8.5 to 14 point reversal towards 1329



S&P Weekly and daily range

Even though the cash market was closed for a public holiday, the futures market was open and a break of the channel highs @ 1339.25 reversed down precisely 14 points.

This reversal pattern was a continuation of last week’s 2nd resistance level @ 1339, which never completed last week.

The rest of this week is now defined by 1329/1331.







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