SPI Daily 23 December 2009 recap

"The expectation was for the first 2-days to move higher and now the 3rd day is above the monthly 50% levels, which could result this week continuing towards the Weekly highs @ 4806 and more

The last R42 range from Tuesday needs to complete and if it continues higher then that level is 4724.

Above 4724 and the market is heading higher"




SPI Monthly and 5-day pattern.


As per Weekly report:- A 2-day UP move to begin the week and if above 4690 there is an expectation that the Weekly timeframe should continue towards 4806, and probably close above it.

However, there is a shorten week because of the Christmas holidays and that higher Weekly close might not eventuate.

And any trend is dependant on US markets following the same price action.






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