S&P 500 E-mini futures 27th October 2011 Daily recap

Weekly highs are seen as random resistance, as part of a move towards the 4th quarterly 50% level @ 1274.50

Don’t hold shorts above Thursday’s highs, as the Trend will continue to extend upwards.

S&P Weekly and Daily cycles

Favourable news out of Euro zone has resulted in the S&P breaking out of the daily highs and completing the move into 1274.50, as per Weekly report.

The breakout of the Daily highs can often see the trend extend up towards Friday's highs tomorrow....

Whilst the market remains above 1274.50, trend bias is to continue towards the November highs next week.





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