SPI Daily 11th November 2010 recap

This week is reversing down from a higher weekly open and the 2nd month highs @ 4791 in the 4th Quarter.

This could see this price continue to move lower (lower Weekly close).

If that's going to happen then today's higher open around the 5-day 50% level and Weekly level @ 4752 will help set-up Thursday moving down.

SPI Weekly and daily range.

Lower daily open and there were two resistance levels today

4740 & 4752.

Early rise into 4740 saw the market stall for a number of hours, but then price moved up into 4752.

Any further weakness towards the daily lows will depend on the price action in the S&P 500 on Thursday






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