SPI trading 8th October 2008 recap

"SPI back around the October lows after rotating back into the 50% levels yesterday and remaining below September lows @ 4701.

The blue channel from Thursday @ 4491 should be a level which defines how well October lows support the market, if there is buying support on the lower open today then 4491 should still be used as today's trend guide :resistance

Below 4400 and price is following the 5-day pattern lower"

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SPI Daily and 5-day pattern 16:30
SPI opens lower on Wednesday and swings back into 4491 and stalls and moves into a consolidating trading day between the October lows and 4491.

And with price continuing down into the 5-day lows.
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