S&P 500 e-mini Futures 20th March 2012 Daily recap

early trading is based on the Monthly highs @ 1402.50 (red filter)

market is either going to continue to follow the Daily range towards the Daily and Weekly highs (resistance)

or rotate downward towards retesting last week's breakout), which I can't see happening because of the daily levels.

S&P 500 e-mini Futures

Monthly highs @ 1402.50 once again pushed the S&P downward, but the levels in the daily range supported the market. @ 1393

I have a view that the trend will continue higher...(April highs)

However, I would like to see the market retest last week's breakout @ 1381 and rise upwards from the 5-day lows and continue the upward trend towards the new April highs over the next 2-weeks.



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