SPI Daily 18th August 2010 recap

"Price has already hit Wednesday highs during sycom @ 4491, therefore it is hard to see further gains in the Australian Market today,

Spiral top @ 4778, could see an initial move down 21 to 42 points"


SPI Weekly and Daily range

Price moved up in early trading and into the precise Spiral top @ 4478 resulting in a push down of 21 points and then a continuation into a precise 42 point low.

The rest of the day remained in a tight 21 point range between key Monthly and Weekly levels.

Once again any further gains will depend on the S&P remaining above 1084.75




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