S&P (e-mini ) 10th March 2011 Daily recap.

Whilst the S&P remains below its Weekly 50% level, my view is that it's moving into the weekly lows and March 50% levels (as per Weekly report)

Support 1293.25


S&P Weekly and Daily range.

The S&P has continued down into support levels @ 1293.25 providing a 8.5 reversal during the day, but then a flat close.

As per Weekly report, 1293.25 is a critical support level for the S&P during March

However, a failure to close above 1300 on Friday can put the S&P under more selling pressure as of next week, as the market begins trading below the 2011 highs @ 1300.

Currently the market is below 1300, and it's also below the Daily range lows, which can often extend lower the following day.


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