dax, cac up well over 1%; FTSE not faroffgiven our massive...

dax, cac up well over 1%; FTSE not faroff

given our massive sell-off 2day , id say we'll easily be 1%+ , esp since copper is back up on that consumer sentiment report from US and have a look at Nickel (almost $25/llb on spot market)

Will we break resistence though is the million dollar question???

SPI futs atm indicate its very possible, and I wouldnt be surprised.

All 'traders' on Monday will be buying stocks for the 'trade up' through resistence .

Its a 'given' that as S+P approaches 1527, we'll definately brk resistence.

thus 'traders' will buy for short-term brk through resistence and further rally based on this technical brk

shortly thereafter though after a little run post resistence brk, I reckon there'll be profit-taking due to all the short-term traders dominating the longs

Long term retail investors are prob cautious right now and wouldnt be entering long term positions. Thus its trader dominated and just as they run it up, theyll profit take their (mostly leveraged ) positions and bring on the profit-taking soon.