S&P 500 E-mini Futures 11th October 2012 recap

Daily close below Weekly lows and Daily lows @ 1427 and trend bias is down into Thursday's lows (random Support)
Daily 50% level random resistance (1-day counter-trend move)

S&P Weekly and Daily cycles

My view at the start of the day was to continue lower using 1427 as resistance, and down into Thursday's lows @ 1416

but instead the 4 hour close above 1427 attracted buying towards the daily 50% level @ 1438

  • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

    S&P 500 E-mini futures 10th October 2012 Daily recap

    1 day counter-trend move upwards using 1433 as support...

    Daily 50% level and Weekly 50% level is seen as resistance

    S&P Weekly and Daily cycles

    Tuesday completed the 2-day reversal pattern, so there was an expectation that there could be a 1-day upward move to retest the 50% levels

    4 hour support @ 1433 failed to continue up towards those 50% levels, and instead there's a 4 hour close below Wedneasday's lows and also the Weekly lows...

    This is going to put pressure on US markets to fall further in the Short-term....

    short-term target 1407.50
    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by

    S&P 500 e-mini 9th October 2012 Daily recap

    Tuesday is still part of a 2-day reversal...

    This needs to be confirmed with a 4 hour close below the blue channels in the Daily cycle

    S&P Weekly and Daily cycles

    2nd day reversal confirmed on the 4 hour close below the daily levels @ 1451

    Currently there is Random Daily support on Tuesday's lows @ 1436.25

    The Trend bias now looks like it can continue down into the Weekly lows, unless there is after-hours buying before the cash market opens, and Wednesday's opens back above the Weekly 50% level

    • Daily Trading Set-ups & Analysis
  • Index Futures SPI, DOW S&P, & Forex
  • Subscribe to the Trader Premium
  • http://www.datafeeds.com.au/premiumtrader.html
    • Posted by
    Subscribe to: Posts (Atom)