SPI Daily 14th September 2010 recap

Resistance 4650 (Tuesday’s highs)

Support 4618

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                                            SPI Weekly and daily range.

Break and extend pattern from Monday’s highs into Tuesday highs @ 4650

Expectation of resistance around 4650

With a minimum pullback of 21 points, and as low as 4618

However, the September highs @ 4628 have ended up supporting Tuesday, which wasn’t unexpected.

"Because price is now trading above the September higher @ 4628, if the SPI begins rising up from 4631 then there is a possible continuation up towards 4672 in late trading & sycom:- SPI 11:25am"

As per Weekly report, upside target @ 4672 is dependant on price action in the S&P.

As per Weekly report, the loss of momentum in the SPI is also dependant on the S&P, and how the S&P 500 responds to it’s own Weekly and Monthly highs this week.






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