DOW S&P Trading 17th October 08 Recap

"Looking at price action I have to favour the Weekly 50% level along with a higher Daily open as resistance and a push down, that will depend on the 5-day 50% level.

No probabilty pattern for Friday:- below 50% level and expectation that price will move down into support"

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DOW Daily and 5-day pattern

Higher open and push down from the 5-day 50% level into support.

And the rest of Friday consolidated between the Weekly 50% level and the 5-day support.

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