S&P 500 E-mini Futures 6th December 2011 Daily Recap

Weekly level @ 1249.50 is the trend guides

Blue channels and red filter are the trend guides on any weakness

channel lows @ 1242 are random support (8.5 points)....

S&P Weekly and Daily cycles

Monday’s  lower daily close and further weakness during Globex hours, and my view was that Tuesday would continue down towards 1242 (Random support)…

And possibly lower , as part of a 2-day reversal pattern.

Instead Tuesday ended up being a 2nd day ‘stall pattern’ (choppy), as the Weekly level continued to support the current upward trend.

Weekly level @ 1249.50 continues to remain the trend guide for this week.




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