SPI Daily 21st September 2009 recap

The Trend guide is going to be the spiral filter @ 4676: support

Resistance 4715 ...



SPI Weekly and 5-day pattern.

Early rise into a spiral high @ 4715 and a reversal down, but remaining in a tight trading range.

At this stage price is trading above the September highs @ 4656 and above the 5-day 50% levels, which are viewed as the trend guides for this week.

As pointed in the Weekly report, i'm not expecting a break of support in the first two days this week, but that can obviously change if the S&P reverses down from resistance levels on Monday.