Monday, October 24, 2011

Trader Update -data point 25 October 2011-

...the SPX 500 broke above the 3 August 2011/17October 2011 key resistance *1233/*1235 to a new 24 October 2011up-trend High *1257 - institutions stay with a positive bias (selling less/weak accumulation) without directional committment

...formidable overhead resistance *1261 ahead!

...above *1220, the index is set to reach out to the next overhead *1317 target going forward, but risks remain for a larger pull-back to re-test the *1220 key support

Kind Regards

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