S&P (e-mini) 11th February 09 recap

"Text book pattern for US markets would be an early rise up into resistance and then a sell down into support levels.

if there is going to be a higher daily close, then markets should bounce off support (Yellow) and then swing back up towards the resistance levels once again.

Wednesday could also end up a small trading range between support and resistance. levels"

Premium Report



S&P Weekly and 5-day pattern

Wednesday's trading went to script bouncing off support....

Except I would have liked to have seen a push upwards in early trading so that price had reached the resistance levels precisely and then trade down into the support levels.



Posted by