S&P 500 e-mini futures 8th December 2011 Daily recap

Trend bias is upwards…


Random resistance Thursday’s highs (8.5 points)

S&P Weekly and Daily cycles

Continuation up towards the Daily highs from the 50% level.

Thursday’s highs formed resistance 8.5 points..

But then continue down, breaking out of the 5-day range @ 1245


“5-day range tightening up, which would lead to a breakout” Wednesday's report

Current expectation is that the break and extend from Thursday will continue towards Friday’s lows, and the Weekly 50% level.

Unless some major development is announced on Friday in regards to the Euro zone, that could see tomorrow close higher.



Posted by