S&P 500 e-mini 23rd November 2011 Daily recap

Trend bias is down… red filter is the trend guide…@ 1169

5-day 50% level @ 1192 is resistance.

S&P Weekly and Daily cycles…

 Early rise up from 1169 (red filter) only lasted 8.5 points….

As the Trend continues lower, as part of a breakout of this Week's lows @ 1196

Current price action suggests a continuation of the downtrend towards the November lows….

However, there is still the possibility that Friday swings back towards this Week’s breakout @ 1196







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