SPI Trading 17th Dec 2007 part 5

15:00

Weekly Trend continues down as it follows the market Dynamics of 'December' lower.

Higher timeframe support had broken on Friday with the lower Weekly close (no support), and confirmed with the break of the 5-day lows (6395) today.

There was the 22 point upswing during the day and it has continued down lower, as it follows the Weekly trend down towards December lows.

Personally, I would have like to have seen an upmove into 50% levels this week before this down move occurred.

Full report tomorrow....