SPI 27th October 2008 recap

"October low breakout and expectation that the SPI is heading down into November lows.

Today is all about 3852..

Below and the SPI is moving down into the Weekly lows @ 3703

Friday 5-day breakout @ 3883"

Morning Report



SPI Daily and 5-day pattern....

16:00 Recap

SPI pushes down from 3852 and remains capped below this level.

I expected more downside in the Market, but Resource stocks currently supported around 4th Quarter lows, whilst Financials are pushing down.

Whether it gets down to 3703 will depend on US markets on Monday...






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