SPI 30th September 2008 recap

"Today is all about the 5-day 50% level @ 3888

Above and the SPI is rising up from a lower Weekly open and with the expectation that price is moving towards the Weekly 50% level @ 4140.

It's happened in most global Index markets, and also Forex.

So at this stage we are lagging, and with BHP up over 15% again in NY, along with commodity prices rising, this leads me to the conclusion that markets are moving towards the November 50% levels next week"

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SPI Weekly and 5-day pattern

"I'm leaning to trading Longs today, and if the above is playing out, trading any shorts today above 3888 is high Risk

Yesterday and lower gap fill.... I strongly favour an Up day today"

Today closed higher and should reach 4140 by tomorrow based on the 5-day pattern and Friday's highs.



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