S&P 500 E-mini Futures 19th August 2011 Daily recap

There is a breakout of Thursday’s lows which should move towards Friday's lows. (random support)

Resistance the 50% levels.

S&P Weekly and Daily range.



S&P continued with the break & extend pattern from Thursday down into Friday’s lows.

Friday’s lows formed support sending the market back towards the 50% level, which formed resistance and pushed the trend back down, as part of the overall move towards lower lows in September.

My Expectation that the trend is moving towards the Weekly lows and then the September lows.

However, there is the possibility that the trend rises upwards next week towards the Weekly 50% level, but then continues lower in the 4th week .

Weekly level and August lows @ 1115 comes into play early next week.










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