SPI Daily 26th August 2010 recap


Market remains trading above the Yearly 50% level @ 4295, and trading above the Weekly lows.

Trend guide 4319

Because of the current patterns I favour a swing up towards 4353, and possibly towards the 3-day highs @ 4373



SPI Weekly and Daily range.

I was looking for more strength in the market today using the higher timeframe support patterns and 4319 as the trend guide.

Instead the first 100 minutes of the day remained below 4319, and once above 4319 price moved slowly upwards but not as high as expected.

Any further gains towards the 3-days highs will be dependant on price action in the S&P overnight




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