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S&P 500 E-mini 17th January 2012 Daily recap
2-day rise has random resistance around the Daily and Weekly highs.
S&P Weekly and Daily cycles
Random resistance of 8.5 to 14 points on Tuesday, has resulted in price closing below key levels in the daily cycle.
Even though the trend bias is to continue towards the Weekly and Monthly highs @ 1314
Tuesday's price action could see a retest of the daily lows on Wednesday.
Posted by Frank Dilernia