SPI Trading 25th January 2008 part 3

US Fed cut and this should stabilise global markets, and hopefully begin a gradual rise back towards the Yearly 50% levels over the coming weeks……

For any UP Trend reversal to take place, the first stage is the move above the 5-day 50% level,

The first baby step in any reversal is the 5-day 50% level (5435)

Any further moves upwards will be back towards the 3-day highs and previous 5-day 50% level @ 5715...that will happen if US markets continue upwards on Wednesday....

(Wednesday SPI Report 23rd Jan 8:30am)


Expectation that price will move to 5715 today

and a move towards blow-off top @ 5771 (today’s morning report 8:30am)

12:00 pm

Today's price action was not unexpected, the only thing it didn't allow myself any set-up to trade longs upwards into these highs.

I knew once above 6541 and the Dilernia Pivot trading shorts was open to Risk......