S&P (e-mini ) 2nd February 2011 Daily recap.

With the S&P trading above 1298 (weekly highs) my view is that the trend should continues towards 1316


Resistance 1312-1316



S&P Weekly and Daily range.

With Tuesday’s daily close above the Weekly and Daily highs, my view was that Wednesday would continue to move upwards, as part of a break and extend pattern

Instead it remained flat, and trading around it’s 2011 primary highs @ 1300

Around 1312/16 is seen as resistance, simply because it completes the double monthly high pattern during the current Quarterly cycle.






Posted by