S&P 500 e-mini futures 1st November 2011 Daily recap

Based on the current price action, the trend bias is down

into the Weekly 50% levels and Tuesday's lows @ 1212.75

S&P Weekly and Daily range.

Continuation of the reversal back towards the new monthly 50% level in November, with a nice set-up in the daily range, as price is rejected down into Tuesday's lows.

Tuesday’s lows @ 1212.75 provided support (14 points)...

and the market at this stage remains above the higher timeframe 50% levels for the time being.





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