S&P 500 E-mini Futures 19th March 2012 Daily recap

Daily channels suggest the trend is moving up towards the Daily highs @ 1407..

as part of  the break and extend pattern from 1381 towards this week's highs @ 1410

S&P 500 Weekly and Daily cycles

 Trend stalled at the March highs @ 1402 and was pushed downward without reaching the daily 50% level @ 1391.50

Higher timeframe breakout pattern then took over, as the market continues with last week's breakout @ 1381 to this week's highs @ 1410.

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keep an eye on 4 hour close below those channels for a possible move down towards the daily 50% level @ 1391.50