SPI Daily 21st December 2010 recap

The spiral filter @ 4740 is what we need to keep an eye on

for the market swing back towards the highs it would need to close above 4763, ideally after bouncing off 4740.



SPI Weekly and daily range

We had the same pattern as the S&P:- 3-day sell cycle and trading below the Weekly level @ 4760.

This is often a bearish pattern, however, as seen in the S&P overnight, it doesn't always play out as we expect as the market is trying to move towards the December highs.

The SPI didn’t move down into support @ 4740, but it did close above 4760-63 to provide a push towards the highs on Tuesday:- random resistance



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