SPI Daily 2nd September 2010 recap

5-day breakout and extend pattern completed from 4471 into 4577

Price is also trading around the Weekly highs, therefore I'm looking for a higher daily open that pulls back into support levels.


SPI Weekly and Daily range.

Higher daily open around resistance levels and a fade down from the weekly highs into support levels to close out the day.

As pointed out in the Weekly report, once above the September 50% levels there is a trend bias to move towards 4672

The expectation of the UP move and trend direction will be determine by the S&P 500 remaining above the September 50% levels






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