S&P (E-minis) 21st June 2011 Recap

Whilst the S&P is trading above 1286.50 the trend is part of a counter-trend move up towards the Weekly 50% level @ 1291.25

Support 1268-1270

Random resistance 1283.50



S&P Weekly and Daily range.

S&P has continued up from the June low, as part of a counter-trend move, reaching the Weekly 50% level @ 1291.25, and stalling.

As we can see, the Daily high has broken out (above 1283.50), and this will normally lead to more upside the following day.

However, QE2 comes to an end on 22/6/2011, which could push the S&P back down, if below Tuesday's High






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