SPI 7th November 2008 recap

Monthly 50% level reversal and down into November lows is taking place...

Today:- resistance 4062

4004 random support...Below 4004 and expectation price is moving down into 3938.

Above 4004 after 2.50pm and short-covering expectation towards the 50% level @ 4092"


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SPI Weekly and 5-day pattern 16:10pm

SPI opens below 4062 and test Resistance early sending the SPI down into 4004.

Once above 4004 after 2.50pm the expectation that any possible reversal was going to send price back into the 50% level @ 4092.

Weekly Report tomorrow



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