US markets in recovery mode saw SPI Futures trade in a 84 point...

US markets in recovery mode saw SPI Futures trade in a 84 point range last night, with a high of 5722, low of 5638 and a close this morning at 5701, up 73 points on highish (for us) volume of 17,918 contracts. Based on that move, my high resistance line is 5771, then 5750, 5739, 5729, 5719, 5708, the pivot point is at 5687 and low support line is at 5603, then 5624, 5635, 5645, 5655 and 5666. Gaps down at 5689, 5675, 5639 and 5627. Gaps above at 5719, 5730, 5739, 5748, 5766 and 5770 to name a few. Friday again hey... phew, what a week so far. So what's the go today ? Short covering, position squaring, or lock and load ? DOW up 401.13 points, or 1.63 pct, SNP up 1.86 pct. Canada (resource driven) were down a tad and the VIX was down 4 pct to 24.22. Somehow I don't 'think' we are out of the woods yet, would like to get Monday out of the way first, as on Monday October 27th ten years ago, Hong Kong stocks crashed losing more than 12 pct, so stay alert, as I 'think' those lower gaps are still live. Man, I'm looking forward to a cold beer later today. Have a nice day.