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...
Posted by
Frank Dilernia