SPI Daily 5th November 2010 recap

our trend guide is simply 4828

If the market is below it is coming back to retest Friday's breakout, with the first targets @ 4802-05.




SPI Weekly and Daily range.

Higher daily open aligns with a precise spiral top @ 4828 and a minor reversal pattern down into 4802-05

And we have a similar support level as yesterday.

As per Weekly report, there is an upward bias towards 4904 during the 4th quarter…

But depending on the price action in US markets on Friday, next week I would want to focus on a 2-3 day reversal back down to retest this week’s breakout @ 4724- 4751.

At the moment we have a breakout of this week’s highs and a likely continuation towards next week’s highs



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