Daily S&P 500 INDEX TRACKER

[ananda77]

Trader Update -data point 18 October 2010-

...the SPX 500 advanced briefly above October 13 High *1184 to the October 19 *1185 Close before getting hammered at todays Open

...the index bounced off the October 14 Low *1167 support initially but upticks appeared sluggish and price action returned to selling the index down to intraday Low *1162 below support

...todays trading suggests, there could be follow through action to the downside with October 12 Low *1156 as a minimum target, with potential to reach down to 6-month trendline support current *1123, if the market is unable to trade back above todays session High *1179

...inflowing long term Fed and Foreign liquidity flows remained in high expansion territory, yesterdays session included, but institutional investors (heavily hedged to the downside) have started to take profit

Kind Regards