SPI Daily 22nd September 2010 recap

SPI Remains supported above 4628

Trend guide 4642

Based on the levels in the daily range Wednesday looks like it can be choppy .




SPI Weekly and Daily range.

SPI continues to consolidate above 4628, whilst today remained choppy within the daily levels rotating in 21-point waves,

As you know I’m bearish around these highs, but to verify a reversal pattern I need to see a break of the 5-day lows, and there isn't a confirming reversal pattern in the S&P after reaching higher timeframe resistance level @ 1142-1144

Otherwise this week looks like another consolidating 5-day pattern above 4593.