SPI 20th November 2008 recap

"US Markets continue down into their Weekly and Monthly lows, and the SPI will open down in 'sick-gut' territory....

Today:- trade on the side of 3379

Below and it's down into Thursday's lows.

Above and it's filling the gaps on the upwards in early trading.

Simply use the levels:- 3379 and 3420 (resistance)"


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SPI Weekly and 5-day pattern

SPI lower Gap open, but remained between both 3379 and 3420 for most of the trading day.

With Financials not showing any life, and certainly not resource stocks, there isn't anything that is going to reverse the slide at this stage.