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Whenever there is a break of the 3-day lows, the expectation is
that the next day will swing upwards and move into a 2-day
counter-trend move.

That will depend on how far the market moves down today,
and tomorrow’s open, based on US markets.(yesterday)

Yesterdays break of the 3-day lows of 6744, and the day
range remained below the break, and continued down as US
markets pushed lower from their break overnight. However, today
the expectation was for a counter-trend move back upward…..

----- Original Message -----

Sent: Wednesday, October 17, 2007 7:56 AM
Subject: SPI Report 17th October

Today’s lower open, and the overall short-term trend is
bearish. This can lead to a weekly ‘bar’ that closes on it’s lows
as it rotates back towards the monthly 50% level.

However a break of the 3-day lows and the next day there is
an expectation that there will be a 2-day ‘stall’ rotation. In
that case this favours a move upward.

And looking at the ‘lower’ R87 Spiral point @ 6705, any up move
and the target is the R87 highs, which is 6772… (today/tomorrow)

Yesterday there was a lot of support around 6705 (pivots), this
is also the R87 lows, so the expectation is that the market to
move higher on open, look for R44 completion @ 6750, and then
use previous pivot of 6744 as a trend guide for remainder of
day with the expectation market is moving higher into a 2-day rotation upward.

(random length and depends on price action in US markets)

<blockquote data-quote="Frank D" data-source="post: 213170" data-attributes="member: 4896">Whenever there is a break of the 3-day lows, the expectation is that the next day will swing upwards and move into a 2-day counter-trend move. That will depend on how far the market moves down today,and tomorrow’s open, based on US markets.(yesterday)Yesterdays break of the 3-day lows of 6744, and the day range remained below the break, and continued down as US markets pushed lower from their break overnight. However, today the expectation was for a counter-trend move back upward…..<img src="Http://datafeeds.com.au/SPI5.gif" alt="" class="fr-fic fr-dii fr-draggable " style="" />&nbsp;----- Original Message ----- Sent: Wednesday, October 17, 2007 7:56 AMSubject:&nbsp; SPI Report 17th OctoberToday’s lower open, and the overall short-term trend is bearish. This can lead to a weekly ‘bar’ that closes on it’s lows as it rotates back towards the monthly 50% level.&nbsp;&nbsp;However a break of the 3-day lows and the next day there is an expectation that there will be a 2-day ‘stall’ rotation. In that case this favours a move upward. And looking at the ‘lower’ R87 Spiral point @ 6705, any up move and the target is the R87 highs, which is 6772… (today/tomorrow)Yesterday there was a lot of support around 6705 (pivots), this is also the R87 lows, so the expectation is that the market to move higher on open, look for R44 completion @ 6750, and then use previous pivot of 6744 as a trend guide for remainder of day with the expectation market is moving higher into a 2-day rotation upward. (random length and depends on price action in US markets)</blockquote>

[QUOTE="Frank D, post: 213170, member: 4896"] [i]Whenever there is a break of the 3-day lows, the expectation is that the next day will swing upwards and move into a 2-day counter-trend move. That will depend on how far the market moves down today, and tomorrow’s open, based on US markets.(yesterday)[/i] Yesterdays break of the 3-day lows of 6744, and the day range remained below the break, and continued down as US markets pushed lower from their break overnight. However, today the expectation was for a counter-trend move back upward….. [img]Http://datafeeds.com.au/SPI5.gif[/img] ----- Original Message ----- Sent: Wednesday, October 17, 2007 7:56 AM Subject: SPI Report 17th October Today’s lower open, and the overall short-term trend is bearish. This can lead to a weekly ‘bar’ that closes on it’s lows as it rotates back towards the monthly 50% level. [b]However a break of the 3-day lows and the next day there is an expectation that there will be a 2-day ‘stall’ rotation. In that case this favours a move upward.[/b] And looking at the ‘lower’ R87 Spiral point @ 6705, any up move and the target is the R87 highs, which is 6772… (today/tomorrow) Yesterday there was a lot of support around 6705 (pivots), this is also the R87 lows, so the expectation is that the market to move higher on open, look for R44 completion @ 6750, and then use previous pivot of 6744 as a trend guide for remainder of day with the expectation market is moving higher into a 2-day rotation upward. (random length and depends on price action in US markets) [/QUOTE]

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