SPI Daily 15th September 2010 recap

Trend guide 4642.

This is either going to push the SPI down towards 4605

Or price is going to move up towards 4666-72 (resistance)


SPI Weekly and Daily range.

SPI moves upwards and completes the 3rd Quarter target @ 4672, as per Weekly report.

Any reversal down will be dependant on price action in the S&P 500.

This moves completes a 3rd Quarter rise and the next long set-ups won't align until the next quarter.

That doesn't mean the market will reverse down from this point, because certain minor patterns need to verify any reversal pattern (5-day low breakout).

It just means I wouldn't be buying back in the market on the long side until there is a pullback during the next Quarter.




Posted by