SPI 5th December 2008 recap

"At this stage I favour a rise upwards in early trading, but if the SPI is going to continue down into Friday's lows, price should stall at resistance and then continue lower.

Basically a higher move into resistance, and then a rotation downward into Friday's lows, which aligns with another 87 points range downward"

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SPI 16:15

SPI opened lower off support @ 3475 moving upwards 87 points.

I had the view most of today that once price had reached those highs, there was a pattern of rotating back down into the lows, which could see the SPI around Friday's lows @ 3455.


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