S&P (e-mini ) 16th Feb 2011 Daily recap.

Weekly resistance levels remain 1331, 1339.50, 1347...

With the expectation that each level can provide resistance of 8.5 to 14 points.

So far 1331 has provided the first 8.5 point reversal



S&P Weekly and Daily range.

S&P has followed the Daily pattern upwards on Wednesday, providing another 8.5 point reversal back down into the trailing channel @ 1329.

Based on the current price action, I would think that the S&P will continue towards the Weekly highs over the next 2-days.



Posted by