ANALYSIS

31st October 2005

By Tom Hougaard

Last updated: 07.50am 31st October

 

                      

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Good morning,

I am travelling this morning, and the analysis will be short and to the point:

In the SP500 I am biased long today as the market map points to higher prices today. I dont have time to post the map until later today. I expect an early high and then drifting sideways for the rest of the day.

As long as we are trading above 1190, I want to be bullish in the indices. 1203 in the SP500 cash market will be good resistance.

The Dax is set to open at 4880, which is good resistance. Above it the next target is 4825.

 

Happy trading

Tom