SPI Trading 10th July 2008 recap.

"Today the SPI will be opening around the Weekly lows 4929, which can become an important support zone.....

However, the 5-day filter @ 4935 is our trend guide.

Often when the market 'gaps' open price usually moves down 21 points before any Buying comes into the market, which also aligns with a spiral filter.

If this is going to happen, then it should be pushing down from 4935.

Trend guide today is 4935, above is it's moving up to close the gap from yesterday @ 4973"

Monrning Report


SPI Daily and 5-day pattern


Market opened below 4935 pushed down 21 points and then slowly moved it's way up towards the 'gap' from yesterday.

The rest of the day moved in a rotating pattern, which often was 'choppy', and the usual probability patterns of 44 point rotations.

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