S&P 500 E-mini Futures 21st MAY 2012 Daily recap

There is a Friday low support pattern, then could result in a 2-day rise to start the week off

however, it makes it hard with the blue channel lows, which may act as resistance @ 1303 & 1315 (resistance)

Trend guide red filter

S&P 500 Weekly and Daily cycles

S&P rose upwards, but remained below 1303 for the first 8 hours of trading...

and as the Cash market opened the trend began its first day of a 2-day rise to start the week off, whilst 1315 formed resistance later in the day.

The MAY lows @ 1315.50 can continue to act as resistance and push the trend back down towards the Weekly lows by Friday.

However, a 2-day counter-trend move could also see the Tuesday move as high as 1329, and towards the Weekly level.



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