SPI Daily 4th October 2010 recap.

This week's trading is based on price remaining within the weekly channels.

Weekly 50% level the trend guide @ 4631

Today can rise up towards the Weekly 50% level @ 4631 and beyond, as part of a 2-day counter-trend move upwards using the Friday 5-day low support pattern

Support 4602  &  Resistance 4662 (spiral filter)


SPI Weekly and Daily range

SPI begins this week with Monday moving upwards, as part of a 2-day counter-trend move.

Early resistance @ 4631 failed to push the market down into 4602, and price continued up towards the next spiral filter @ 4662.

Resistance @ 4662 pushes the SPI back towards the Weekly 50% level @ 4631




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