SPI Daily 27th August 2009 recap

"At this stage we are treating the SPI to be 'range trading' between the levels in the Primary range and 5-day pattern.

Range from yesterday needs to complete @ 4415... (support 4412)

Early trend guide is 4426"

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SPI Weekly and 5-day pattern

Expectation that the early trend would move down from the higher daily open into 4415

This set-up a lower spiral point, as Wednesday's range had to move into Thursday's range.

However, it wasn't until price moved back above 4426, that price moved into 'range trading' with a high around the spiral top @ 4448.






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