S&P 500 E-mini Futures 23rd MAY 2012 Daily recap

is the trend going to continue down towards the Wekely lows by Friday?

could do....

Trade on the side of the channels and red filter

S&P Weekly and Daily cycles

Early resistance around the daily levels pushed the trend down 14 points....

However, the back half of the day attracted short-term covering

As the MAY lows once again formed resistance @ 1315.50.

1315.50 will be the trend guide on Thursday, as to whether the next 2-days continues down into the Weekly lows @ 1270

or price moves up towards 1328/1330



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