SPI 21st October 2008 recap

"Monday's trading was all about 4063:- above and it was rotating back into 4181-6 the timeframe 50% levels.

Tuesday is all about 4289:- Below and expectation price is pulling back into 4230.

Above 4289 it looks to be heading back into the Weekly 50% level @ 4340.

Lower Weekly open and 2-3 day reversal back into the Weekly 50% level"


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SPI Daily and 5-day pattern

SPI opens around 4289 and pushes down into 4230.

A late rally pushed upwards by resource stocks, as they follow the same pattern.

SPI moves back into the Weekly 50% level @ 4340.

This completes the 2-day counter-trend move upwards.

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