S&P (e-mini ) 5th October 2010 recap

"If Tuesday is back above 1143.75, then the trend bias is to continue up towards the Weekly highs @ 1157+"



S&P Weekly and daily range.

There is a monthly breakout of the September highs, therefore there’s an expectation that the trend is moving up towards the October highs.

Either Tuesday’s lows were going to provide a support level and higher daily close, as per report

Or the Weekly 50% level was going to send the S&P upwards, confirmed with price trading above 1143.75.

Currently there is resistance around the Weekly highs @ 1157.50

However, with a daily breakout of the highs on Tuesday, expectation is that price will try and continue upwards.


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