S&P 500 e-mini 17th October 2011 Daily cycles

random resistance levels around  Monday highs @ 1235



and if below the red filters after 7pm. (Aussie Time)....

There could be weakness towards the blue channel highs (random support)


S&P Weekly and Daily cycles

I wasn’t expecting this week to start off with a 2-day reversal pattern.

But when Support @ 1211-13 failed this was the confirmation that this week was starting with a 2-day reversal pattern, and the trend bias was to follow the daily range towards Monday’s lows (Random support).

Even though Monday’s lows have formed support, Tuesday becomes part of the 2-day reversal

 


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