S&P (e-mini ) 15th March 2011 Daily recap.

S&P has broken support @ 1281-1283, which then forms resistance on the way down.



S&P Weekly and Daily range.

S&P broke support during Globex hours on Tuesday and continued down into the daily lows.

This saw the market swing back towards the breakout, as part of a retest during the day.

The March Contracts moved up into the 5-day 50% levels, whereas the June contracts hit 1283 and stalled.

Based on the current price action I have only 1 conclusion, and that is for the S&P to continue down as described in the weekly report.




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