SPI Trading 14th December 2007


8:30

Market reversed down after 'gap completion @ 6661, and continued down from 5-day 50% level yesterday, hitting the 5-day lows overnight.

Weekly timeframe trend:- it's either going to close on it's lows today around the 5-day lows and Weekly 50% level @ 6557 (lower Weekly close followed by price rising upwards from a lower open next week)

Or it's going to close around the 5-day 50% level.

Simple risk filter is 6590:- 3-day lows and R44 spiral point