Saturday, October 8, 2011

Weekend ES Futures And S&P 500 Index Charts 10/08/11

If the market trades down to the 1100 level and then goes back up, we would have a head and shoulders pattern.

Friday had the most narrow range of the last 7 days, which makes it a NR7 day. The market may trend in the direction of a breakout of Friday's range.

The S&P 500 Index is still below its 50-day moving average.

US Economic Data links:

Economic Research from the St. Louis Federal Reserve Bank

Economic News from the Bureau of Labor Statistics


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