SPI Daily 1st October 2010 recap

"Minor resistance @ 4629.


Random support:- the daily lows on Friday"



SPI Weekly and Daily range

First day of the 4th Quarter and expectation is that the trend is trying to move down towards the October 50% levels.

Early rise upwards was based on the R42 range from yesterday's lows (spiral top)

The resistance levels on Friday then pushed the market back down into the daily lows on Friday:- random support.

The price action in the S&P 500 on Friday, will determine whether the market moves down into support levels sooner, or there is going to be further consolidating early next week:- 2-day swing pattern upwards

Weekly report out tomorrow



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