SPI Daily 10th August 2010 recap

Trend bias is to continue higher this week.

Support 4547

If below market moving back down 42 points.




SPI Weekly and Daily range.

August levels @ 4565 continue to resist the trend from rising up towards the Weekly highs @ 4606.

I wasn’t expecting a down day today because of the levels in the daily range, as it didn’t provide ‘short’ and hold trade based on the filters

However, once price was trading below 4547 the bias was to continue down 42 points.

Trend remains above the higher timeframe 50% levels, but that can quickly change.