SPI Trading 19th September 2008 recap

"Yesterday the XJO hit the 2008 lows @ 4538, along with US markets hitting their Yearly lows, and in my opinion global markets have hit their lows for 2008

Today:- it's all about 4772.

Below and we will probably push back down into the September lows @ 4701.

Above and it's heading towards the 5-day highs. Not sure if it's going there today, but by Sycom close it could.

Ideally a 44 point reveresal down into the brown filter :- random support, for a continued late rally:- R44 low"

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SPI Weekly and 5-day pattern

SPI opened above 4772 and continued with the UP bias into the close, forming a 44 point reversal and continued up move.

Weekly report out tomorrow




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