Latest bull run (from 15 Mar) began with a huge gap up. Very bullish. If the bulls have plans to move it back up next week, they will defend that level at 7710. If not, it will move down through it without blinking. 7710 is quite an important level, and it's about 0.6% below last night's close.
The biggest determinant of any speccy's performance is the broader market, then the sector.
