S&P 500 E-mini Futures 22nd November 2011 Daily recap

S&P looks like it could go lower, as it's below the Weekly lows @ 1196

But the next 12 hours could remain choppy, and then decide whether it's going to closer higher or continue lower later in the day using the red filter.

S&P Weekly and Daily cycles

S&P has remained below the Weekly lows @ 1196, with weakness later in the day towards the daily lows using the red filter as a trend guide

The trend continues to be bearish whilst the market is trading below the November 50% level @ 1206






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