S&P 500 e-mini Futures 29th September 2011 daily recap

Daily channel matches the Weekly 50% level @ 1165 (resistance)

Therefore there's a strong reason why price could be pushed down 14 points...and as low as the daily channel lows @ 1133. (support)

 
S&P Weekly and Daily cycles


nice short-trade set-up @ 1165 using the daily channel and the Weekly 50% level  providing a move down into the daily 50% level @ 1149....

and then further weakness towards the channel lows @ 1133 (support)











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