Cash Index 16 October
1. The index has now traded through the first breakout target of 51700
2. Traders committed to this move, using a close below the 1 day low as an exit signal (as 10 October) would still be in the trade and would consider continuing to use this trailing stop methodology, whilst targeting the further upside target of 52340
3. The index appears to be in short squeeze territory providing little in the way of a pullback for new long entries as of yet
4. From current, the closest level we would consider looking for a new long entry (should a pullback occur) would be the 51120 level
5. We continue to respect the upward trend and remind traders of the inherent risks of trying to pick tops in markets