SPI futures 12th August 2011 recap

My view is that price will close the Gap from Yesterday. (42 points down)

That could happen from the spiral filter @ 4170

or from Friday's highs (resistance)


SPI Weekly and Daily


Higher daily open and sell down from the spiral filter and Friday’s highs closing Thursday gap of 42 points.


As per last week's report, My original view was for the market to move up towards the weekly 50% level and then be rejected back downward.

However, because the S&P has already reached the August lows, and has fast forward the price action....

There is still the possibility that the trend continues upwards, as part of the 3rd Week counter-trend move (next week) towards (#B) 4404.

The Primary level @ 4137 comes into play once again (next week)


Weekly report out tomorrow







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