SPI Daily 2nd October 2009 part 2

"Normally for the next UP leg to continue I would like to see prices back around the 3-week lows, the 3-week lows are much lower in the SPI @ 4474

Therefore the 5-day lows need to breakout, with an expectation that price will move down 42-44 points"


SPI Weekly and 5-day pattern

Lower Friday open below the 5-day lows and I expected more weakness.

Normally I would at least see a minimum move down 42-44 points outside the 5-day range, but most of the trading day remained consoldating.

The SPI will move down towards 4474 depending on the price action in the US on Friday/Monday.


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