S&P (e-mini ) 29th JUNE 2011 recap

because of the Weekly highs, my view is that price is more likely to reverse down 8.5 points, and then move back towards the 5-day 50% level, and blue channel highs. (random support)..



S&P Weekly and Daily range

Tuesday's highs and the Weekly highs didn't provide the initial 8.5 point reversal that I was looking for.

That 8.5 reversal pattern occurred around Wednesday's highs, but it didn't remain below the Weekly highs.

As noted in the Weekly report, there is a potential last week up move in the current Quarter, and with the market above those Weekly highs, that up trend is likely to continue towards the monthly 50% levels.






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