S&P (e-mini ) 9th February 2011 Daily recap.

my view is that price will move down from Tuesday’s highs and back towards the trailing support levels (day 50% levels and blue channel highs)- (minimum move 8.5 points).

Random support @ 1311


S&P Weekly and Daily range.

As per Monday’s report…. “based on the Daily close above the 5-day highs on Monday, price can continue to push up towards Tuesday's highs…if that's the case, then Tuesday's highs are seen as resistance, with a reversal pattern towards the 5-day 50% level

That price action has played out on Wednesday…

And based on the current price patterns, my view is that the market will probably try and push upwards once again…. (1331)....

As long as it remains above 1316.





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