SPI Daily 14th October 2009 recap

"SPI remains trading inside the 5-day range with a bias to continue higher in October, however the two patterns we need to keep an eye on is whether price is moving up towards the Weekly highs @ 4845, or moving down into the 3-day lows @ 4737

If price moves upwards then the trend guide is going to be 4804, and whilst above that level price can continue towards the Wednesday highs"

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SPI Weekly and 5-day pattern

Higher daily open and once the R42 range close above 4804 the bias was to follow the 5-day pattern into the Wednesday& Weekly highs @ 4845.


Even though the October trend is to continue into the monthly highs @ 4940+, the SPI can continue to remain range bound this week and then follow the Weekly dynamics higher next week.

That will depend on the price action in US markets on Wednesday.






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