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S&P Futures – These are big candles

By stjeanluc
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Courtesy of Jean-Luc Saillard.

Pretty amazing pattern in the S&P futures – matching black and white candles in consecutive days. And big ones at that! This does not happen in a rational market though!





Click to enlarge





We also happened to run almost exactly into a Fibonacci retracement yesterday (and crossed another one rather abruptly). There is a 50% retracement over our head at 1188 that served as confluence line back last November. Resistance level was more around 1200 though and it is of course a psychological line!





Click to enlarge



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