S&P (e-mini ) 16th March 2011 Daily recap.

"Expectation that the trend will continue down from the resistance levels @ 1281-83 (breakout of the Weekly range) and move down into Wednesday’s lows @ 1255, and as far as the March lows @ 1230"

S&P Weekly and Daily range

S&P continues down from the daily 50% level into Wednesday’s lows.

Expectation that the trend is moving towards 1230 this week (minimum move).

There is a breakout of the weekly lows, therefore the trend is based on following the break and extend pattern into next week’s lows.

Which could see the S&P down around 1202-1210, as per weekly report




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