S&P 500 E-mini 22nd September 2011 Daily recap

As per Weekly report, the trend bias can continue lower for the rest of the week, which means, the Weekly lows are random support levels….

With the possibility that the trend continues down into the September lows.

Random support @ 1135 (8.5 to 14 points)
S&P Weekly and Daily cycles

Daily and Weekly lows were seen as random support levels @ 1135. (8.5 to 14 points)


However, these levels failed to hold any support, and the market has continued lower, as mentioned in last weekend’s Index report…..

Traders should keep an eye on the Weekly level @ 1218. if below at the start of next week, then look for a 2-day reversal pattern .if price breaks out of the 5-day lows on Tuesday, then the trend will continue lower for the rest of the week….. Weekly report.


That breakout occurred 1 day later @ 1178, as the 5-day range tightened up.

Current expectation is that price is moving down into the September lows.

Note:- GOLD Report UPDATED

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