S&P 500 E-mini futures 26th August 2011 recap

Resistance 1177

Trend guide 1160.25

Ben Bernanke coming ou, and i'm not so sure it's going to have a positive effect. It's below the Weekly 50% level with an overall bias to continue lower


S&P Weekly and Daily range.


Early selling pressure on the S&P as it’s pushed down from the Weekly 50% level, but it didn’t reached trailing daily support levels @ 1127.50

I’m not sure whether Ben’s speech was positive or negative, I just think the late rise was more to do with computer algorithm programs doing their thing.

Weekly 50% level resistance this week, but it’s likely to move upwards in the short-term, as part of rotating back towards the new monthly 50% level is September.



Weekly report out later










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