S&P 500 e-mini futures 18th October 2011 Daily recap

Tuesday is seen as part of a 2-day reversal.

Random support the Daily lows @ 1181

Resistance @ the 50% level @ 1203.50


S&P Monthly and Daily cycles

Tuesday didn’t play out as expected and remain below the Daily 50% level, as part of the 2nd day reversal.

And I can understand why, because the levels in the monthly cycles formed support, sending the S&P into the daily highs 1226.50 once price closed above the daily 50% level.





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