SPI Daily 13th October 2010 recap

"today's higher open is going to align with a spiral top pattern @ 4667-4671



This can provide a continuation of the trend down into the daily lows (42 points)


SPI Weekly and 5-day pattern,

In yesterday’s recap I mentioned….(below)

"the 2nd day reversal pattern began to take hold without providing an ideal intra-day set-up to get back into the trend. Ideal set-up would have been a reversal into 4673 (support becomes resistance) and then a 2nd ‘short trade' down into the close"

We didn’t get that yesterday, but we got it today.

Downside target was 4610, but it began to consolidated once 42 points completed



Posted by