S&P (e-mini ) 13th October 2010 recap

Trend guide 1164.50

Breakout of Tuesday’s highs should continue up into Wednesday’s highs (1172-1174)

Two possible patterns....

Reverse back down into the daily 50% level (resistance) or continue to trend up towards 1183, as per weekly report



S&P Weekly and Daily range..

Early rise upwards from Tuesday’s breakout @ 1164.50, has seen another breakout on Wednesday, as the market goes looking for the 4th Quarter highs @ 1183.

This week has seen the trend continue higher after testing the Weekly support @ 1154, and will be completing the 4th quarter pattern @ 1183 (read US market Index report)




Posted by