SPI Daily 8th November 2010 recap

"Sycom has closed on the spiral filter and once again 4828 should be used as today's trend guide.
If below expectation that price is rotating down, with the first target @ 4794."


SPI Weekly and Daily range

Market moves down from 4828 and into the first target @ 4794

"Monday's trading is whether it tries and continue up and move towards this week's high @ 4876...

or whether Friday's 5-day high @ 4836 begins this week with a 2-day reversal using 4828 as resistance"

At this stage we are currently in a 2-day reversal pattern back towards 4752 , and a retest of last week's breakout @ 4724

With today's set-up and spiral filter @ 4828 providing the robust resistance and entry level

However, the daily and Monthly levels are supporting the price action on Monday @ 4791-94



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