SPI 3rd December 2008 recap

"Expectation that this week would start with a 2-day reversal pattern on the down side.

Those two days are over, and now Wednesday's trading is an each way bet....

Trend guide the 5-day 50% level @ 3632.

Below the 5-day 50% and the overall trend continues down:- 3rd day sell pattern"


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SPI Weekly and 5-day pattern

Expectation of lower prices in December, and Wednesday's trading in the SPI today played out near precise...

Early rise into the 5-day 50% level @ 3632 and reverse down from a R44 high

3x44 bars down, 3x44 bars up, and another rotation downward into the close.

If US markets move lower on Wednesday, which is what I have modelled, then the SPI should be opening around Thursday's lows tomorrow, if not lower.

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