SPI Trading 29th September 2008 recap



SPI Daily and 5-daY PATTERN

1 day to go until the end of the Quarter, and the SPI is trading around the October 50% level.

This level from Wednesday will define the direction the next month, and as pointed out 2 weeks ago, a down move is not out of the question dragged down by resource stocks, and resource stocks dragged the market down today.

SPI Spiral filter

Exact same pattern as Friday using the spiral filter.

Short the break and the reversal pattern on the cross over of the brown filter, resulting in short covering into the close.


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