S&P (e-minis) 25th July 2011 recap

I have seen this pattern before, only to see the market rise upwards, using the Weekly 50% level, as support...

Random resistance @ 1340.50

S&P Weekly and daily range.

 S&P gapped down on news that they have resolved the debt ceiling issue…

However, that open aligned with the Weekly 50%, and inside the daily channels, providing a 8.5 to 14 point rise towards the upper daily channel





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