S&P (e-mini ) 2nd November 2010 Recap

I would have to favour 1186.26 to 1186.75 acting as resistance and sending Tuesday lower.

above 1186.75 is a random pattern, as the market goes looking for 1202.50

S&P Weekly and Daily range.

This Week's trend guide is 1186.75, and after yesterday's reversal down from Monday's highs and the daily close below 1186.75, my view was a continuation down on Tuesday...using both the Weekly and Daily channels

However, as pointed out in Monday's report...

Either the market hits resistance around the Weekly and daily highs on Monday and reverses down….

or the trend continues upwards towards 1202.50

Once Tuesday started trading above 1186.25, it now looks like the market will try and continue upwards this week


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