S&P (e-mini) DOW 13th Ocotber 08 recap

"Ideal pattern would be a 5-day 50% level push down into support, and then a higher move off support into ther close.

Don't short-trade above the 50% level."

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S&P Weekly and 5-day pattern

S&P and US markets have followed the same pattern, rising up from a new lower weekly open and moving back towards the October lows.

The ideal pattern on Monday didn't play out precisely, as prices didn't come down into support.

The interesting part on Tuesday is, how do prices react to the October lows?

Because a breakout of a timeframe often will remain outside that level until the next timeframe begins :- November


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