SPI 28th November 2008 Recap

For the past 3 days the SPI has struggled to move higher than the Weekly 50% level, and has remained trading around it's November lows @ 3584.

US markets have continued higher, but one of the main reasons why the Aussie market hasn't is because of the financial Index.


SPI Today:- support 3580

Depends on where the SPI opens:- above 3580 and price could continue towards yesterday's highs in late trading day.


Above 3692 and 3pm, and expectation of a push towards 3758"

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SPI WEEKLY & SPI 5-DAY

SPI has closed higher:- higher Weekly close into Friday.

Today's open above 3580 and price attraction was to 3692, and above that after 3pm and the SPI was moving towards 3758.

As mentioned in the Financial report:- Resistance levels of November disappear, along with the potential of US moving higher early next week, can see the SPI around 4050 next week.

It will be critical on US market moving higher, as the November lows support on the Indexes shift lower....

Weekly report out tomorrow

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