SPI Daily 8th December 2010 recap

Weekly higghs have been reached and now expectation is a lower Wednesday close towards support levels @ 4681-89.

Trend guide @ 4726 and spiral filter



SPI Weekly and Daily range.

4726 formed resistance in ealry trading and moved into a lower wednesday close, without reaching the target zones.

Weekly highs reached and expectation was that today would move down into support levels, which is now happening in after hours.

If the market is going to go higher then price needs to find support around 4689 and begin a move towards higher highs by Friday.

Anything below 4689 is seen as bearish


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