S&P 500 E-mini Futures 16th February 2012 Daily recap

My view is that the Market is moving down over the next 2 days:- resistance 1342.50


Random support:- Thursday’s lows and Weekly 50% level @ 1325-1330


S&P Weekly Daily cycles

My view was that the S&P 500 would remain below 1342.50 and continue down into Thursday's lows and the Weekly 50% level, as the first support zone


Instead the market rallied on the news that data showing U.S. jobless benefits claims unexpectedly fell to a near four-year low and U.S. housing starts for January rose more than expected.....
 
and we are back into the highs once again....




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