SPI Daily 28th August 2009 recap

"Early resistance @ 4473.

However, Friday will be based on the Yearly 50% level @ 4455, and how price reacts to this level in the afternoon.

If it's going to go higher into the close it might follow the 2.50 pm buying
pattern that sometimes occurs on Friday and higher Friday close following the
R87 range upwards @ 4489"


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SPI Weekly and 5-day pattern

Extremely slow price action today trading above the Yearly 50% level @ 4455.

Early rise into resistance and a retest of the Yearly 50% level @ 4455.

Late support saw buying into the market after 14.50, pushing prices higher toward 4489, and probably a continuation towards September highs next month.