SPI Trading 15th August 2008 recap

"Last 44 point range from Thursday needs to complete, and due to the spiral low I favour an UP move into 4962.... (support 4914)

The rest of today will be defined by the 5-day 50% level....4966

If the Spi completes the R44 range upwards (4962) then there are two plays.....

1. hits the 5-day 50% level and reverses back down because this time price is trading below the filter 4970, whereas yesterday price was rising up from the brown filter 4903."

Morning Report




SPI Daily Recap 16:10

SPI rises up from the lows @ 4917 and completes the Range target @ 4962...

The rest of the day remained below the 5-day 50% level and rotating around between the spiral filter.

Spiral filter

Support around the lows today and pushing up into the fitler @ 4970, as part of the morning report, and then back down into support for a sideways trading day to close out the Weekly timeframe.





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