October 14, 2010

S&P 500 futures before opening bell

  • The narrow range of 1173-1180 breaks. Bears managed to reach 1169. Fall was arrested there. Break of 1169 can take it to 1163 levels. Trading above 1173 bulls will try to scale 1180 again.
  • S&P 500 Futures gave a breakout above the resistance line of the broadening pattern yesterday.
  • But price has not made any big progress. Index is trading in a small range of 1173 -1180.
  • Break of this range will give a clue to which side price is going to go.

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