S&P (e-mini ) 8th February 2011 Daily recap.

S&P Resistance @ 1316, as per Weekly report.

However, based on the Daily close above Monday’s highs, the trend can continue to push up towards Tuesday’s highs.



S&P Weekly and daily range.

As per Weekly report, there are two possible patterns playing out…

#1) 1316 forms resistance and continues down

#2) or trend is continuing up towards 1331.

Based on Monday’s close above 1312.50, the S&P has followed the break and extend pattern upwards, following the daily range towards Tuesday's highs.





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