S&P (e-mini ) 18th March 2011 Daily recap

"Friday's trading is based on whether the market remains below the resistance levels, or continues to swing back towards 1300 and the Yearly highs.

There is a Weekly breakout, and I would look for a continuation down towards the Weekly lows (next week)

Resistance 1290"



S&P Weekly and daily range.

S&P has remained below the breakout lows.

My view is that the S&P will continue back down towards the lows next week.

However, if above the Weekly level @ 1271.50…

There is a possible swing back towards the Weekly 50% level, which matches the yearly highs @ 1300



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