SPI Daily 1st September 2010 recap

First day of September and price is now trading above the September 50% levels @ 4394, which is seen as a bullish sign

For the market to move up towards the 5-day highs @ 4471, price needs to be trading above the Weekly and daily levels @ 4430-32.

Above 4471 and trend bias is towards 4522




SPI Weekly and Daily range.

Shift in market dynamics from August into September has seen a 5-day breakout, @ 4471 and looks to be heading into 4522-27 in the short-term

If this pattern continues as per Weekly report, that upside target during September is 4672.

Market dynamics in US markets aren't the same at this stage, as the S&P opens below their September 50% levels today.



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