SPI Daily 16th August 2010 recap

Monday's trading is going to be based around the levels @ 4373

If above looking for a swing back towards 4432.


SPI Weekly and daily range

SPI currently remains range bound within the Weekly levels and swing trading within the 5-day range.

Early rise with a target around the next spiral filter @ 4332, but the weekly 50% level stalled price @ 4424.

As pointed out in the Weekly report, the Aussie market looks well supported, but what’s going to drag the market lower is the price action in the S&P 500.





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