S&P (E-minis) 24th May 2011 Recap

continues up from Monday's towards the daily 50% level:- resistance 1324.50

and a similar pattern as last week, dips down into Tuesday’s lows (random support @ 1307.50)





S&P Weekly and Daily range

This is a similar pattern in the S&P as last Monday...

Support Monday’s lows with matching Weekly levels, but Tuesday has once again followed the trend towards the daily lows.


However, the last time it found support on Tuesday and closed higher, and then moved up towards the Weekly 50% level over the following 2-days.


This time the S&P has failed to swing up to close back above the key levels @ 1320-1324.50, but it continues to remain above the Weekly lows.

This is the last week of the month of MAY, and there is still the possibility that the trend can break the Weekly lows.
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