SPI Daily 27th August 2010 Daily recap

SPI trading around major support using the Yearly 50% level @ 4295.

Trend guide and support @ 4292-95

Random resistance @ 4335 & 4363.


SPI Weekly and daily range.


SPI didn’t move down into support levels (4292-95) to provide an ideal long set-up to trade the 42-point range upwards.

There were minor intra-day resistance levels @ 4335 and 4363, each providing a 10 point reversals, but nothing that was lasting.

As pointed out numerous times this week, the SPI around 4295 remains well supported during 2010,  however it is the price action in the S&P 500 from September that’s the worry.

Weekly report out tomorrow.




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