S&P 500 E-mini Futures 30th November 2011 daily recap.

1 more UP day, as part of a 3-day rise?

Support 1182

Any support is seen as part of a 3rd day rise.

S&P Weekly and daily cycles

 3rd day rise on the back of news coming out of the euro zone regarding funding from central banks.

The length of the UP move isn’t surprising, once is moved above the Daily highs and also the November 50% level @ 1206.

The surprising bit was the lack of intra-day 8.5 point reversals patterns, especially around the Weekly 50% level @ 1221.25

Trend bias is to continue towards the Weekly highs:- 1253-56

Posted by