S&P E-mini futures 5th August 2011 recap

the S&P is moving down into the Yearly 50% level :- major support @ 1169/73

Two resistance levels on Friday 1208.50, and 1222, in case the market rises upwards early

Ideal pattern would be for the market to move down into Friday’s lows and Major support levels and close higher.

S&P Weekly and Daily range.


Great volatility on Friday with a number of levels providing support and resistance zones for day traders to take 8.5 to 14 point ranges

Market shot up early as the job numbers came out better than expected, this saw the market nearly hit the intra-day resistance level @ 1222…

But once below 1208.50, the trend bias was down into the daily lows, which matched the larger Primary cycle support levels @ 1269/1273

Support levels provided an upswing off the lows and back into the resistance level @ 1208.50, using the 3rd Quarterly level, where it once again provided another 14 point resistance zone.

Weekly report out later.











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