SPI Trading 31st January 2008 part 2


10:15

SPI opened below 5578 and has moved down into 5477, and the 3-day cycle lows.....

Any support around these levels and expectation that upside gap of 5578 will fill, probably later in the day....

Bearish pattern is a failure at the R44 spiral top @ 5524 and move back down into 5477 (don't trade longs below)

Market could end up down into Weekly lows @5242

high Risk trading longs below 5477


no trades atm...