SPI Daily 4th September 2009 recap

"If the SPI is going to follow the pattern of a lower Weekly close(Friday) then resistance is 4474

downside targer 4430 (R44 points)

with a maxmimum move down towards 4409 (lower Friday close)"

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SPI Weekly and 5-day pattern

With the S&P 500 failing to closer higher than the 5-day 50% level on an expected UP day, the expectation that the SPI would move down into a lower Friday close was based on the 5-day pattern and the channel highs @ 4774.

Expected down move was the reliable pattern of 42-44 points (4430)

A 5-day pattern range would be down into 4409, which might occur during overnight trading.




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