SPI Trading 24th January 2008 Part 5

10:55

SPI has rallied 44 points and reversed back down into the 5-day 50% level @ 5484

A bullish market will be supported around these lows and continue higher into the close back towards 5525 (Minimum 44 point up swing)

I personally won't go looking to short-trade the top again

A consolidating pattern outside the Weekly lows can still swing upwards but stall and rotate back down from an R44 top and move into a sideways pattern for rest of the day...

A weaker day will break 5476 (R44 low) and continue down into the previous 5-day 50% level..... which I won't be shorting and/or trading longs below..


Dont go long below 5484 and don't short trade 5525 again..