S&P (e-mini ) 6th April 2011 Daily recap.

We've had a 2-day stall pattern without the market moving below the weekly level.

This leads me to think that the trend will continue to move higher on Wednesday, and this tight trading range will eventually lead to a breakout and a move towards the Weekly highs



S&P Weekly and daily range

Early rise up from the daily 50% level on Wednesday, but once again the daily highs resists the market from rising higher.

Whilst the trend remains above 1322 the trend bias is to move higher, and follow the trend towards the Weekly & Monthly highs

However, after 3-days of trying to move upwards, but failing….

I’d keep my eye out on Thursday, if it’s below the daily 50% level.



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