Sunday, October 10, 2010

Weekly Forecast - Oct. 10

Market continues to push higher everyday, but might actually see a pull back this week.  Reports for this week will be light with a couple main ones coming out towards the end. 


SPX still has a long way to travel before hitting any major resistance so a bigger move up could be in the cards.

The /ES is having a hard time closing over 1158.  Need to see a clean break above the retracement before this market will push higher.

Currency markets have lead the way in this giant push up, and could be running out of steam.


EUR/USD pair still has a lot of room to move and is now sitting above support.  Equities could run if EUR runs.

GDP/USD pair coming up against resistance and could turn down towards its upward trendline

After a brilliant fall USD/JPY pair are coming up against support and could see a bounce coming up.

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