S&P 500 E-mini 18th November 2011 Daily recap

Weekly lows @ 1213 support


Daily 50% level and channel lows @ 1233-35 resistance.

S&P Weekly and Daily cycles

 Thursday’s price action of finding support around the Monthly 50% level and Weekly lows @ 1213 would try and push the market upwards on Friday (8.5 to 14 points)

Whilst the position of the daily levels @ 1233-35 would have normally provided resistance…

However, on this occasion the market failed to reach those upper levels as part of short-term selling opportunities.




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