SPI 1st December 2008 Daily recap

"Set-up A:- continues higher this week back towards the Monthly 50% level.

This is helped by tomorrow's Reserve bank meeting and likely rate cuts.

Set-up B:- November lows support shifts lower, Weekly 50% level and a higher Weekly open can see the SPI begin to move down once again.

It's a higher Weekly open, and often higher Weekly opens move down 2 days"

Premium Report




SPI Weekly and 5-day pattern

Being a higher Weekly open and trading below 3758, there was a bias to continue down early today.

This is part of a 2-day 'stall' pattern, with the expectation to pull back into the 5-day 50% level.

At this stage I favour lower prices this month, but with tomorrow's Reserve meeting and expected rate cut, this could put a rocket in the market to continue towards the December 50% level.

If US markets move lower on Monday, and the SPI is trading below 3618 tomorrow, then regardless of any rate cut, the SPI will probably begin to move lower after any rate announcement.




  • Daily Trading Set-ups & Analysis

  • Index Futures SPI, DOW S&P, & Forex

  • Subscribe to the Trader Premium

  • http://www.datafeeds.com.au/premiumtrader.html



    • Posted by