S&P 500 E-mini futures 25th August 2011 recap

I can't be confident that US markets will continue higher on Thursday more than 14 points (Thursday’s highs), because of 1177 forming resistance

 

S&P Weekly and Daily range.


S&P continued up into Thursday’s highs and reversed back down into the trailing 50% levels in the daily range.
Ben Bernanke is making a speech on Friday, but I’m not sure it’s going to have much effect in sending US markets upwards.

The current price action has all the hallmarks of heading lower coming into the end of August and into September, as part of the larger timeframe cycles.

And if they do announce another stimulus package (QE3), my bet it will coincide with the market reaching those September lows











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