SPI Daily 25th October 2010 recap

"Monday’s Trend guide   @ 4648 :- 21 to 42 points"


SPI Weekly and Daily range

SPI rallied on open after testing 4648 and continued back into the Weekly highs, which formed resistance @ 4724-27

The Weekly highs (resistance) will now be depend on whether the S&P continues upwards, or follows a similar pattern and hits resistance (weekly highs) and reverses down on Monday.

As per Weekly report, the expectation during this Quarter is to continue towards 4900, but there is still the possibility that this week continues to consolidate.

A breakout of the 5-days highs on Monday (4700) can often push higher the next day, but once again it will depend on the price action in the S&P 500 overnight, which is already trading near its own Weekly highs before the cash market opens





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