DOW S&P Weekly Report 26th April 2008

DOW CASH Weekly

Both the DOW and S&P cash markets are trading around the breakout of the last Quarter lows from Sept-December 2007.

Those previous lows are acting as major resistance at this stage, but any higher push in May and the expected move is to push towards the April-June highs before reversing back down.


S&P Weekly Cash

S&P cash market is trading around the 50% level, which can form a resistance zone, a further push upwards in MAY and the S&P will be moving back towards 1452.

DOW and S&P Futures markets

Bot markets are forecasting higher prices, and I would look for those levels to be resistance zone in this Quarter before the market rotates back down into a sideways pattern...

DOW Daily futures

Both markets have close on their highs, and I would continue to treat both markets for the next week, as trading between the 5-day levels

S&P Daily futures

Both US markets look to be pushing upwards into the Weekly highs next week, and I would look for another rotation back down towards the Weekly 50% level once again.