SPI Trading 28th February 2008 part 2


10:22

today's set-up was based on the market moving upwards from 5707 and heading back up towards yesterday's highs and beyond, as it follows the expectation of theWeekly trend.

Today's price action and move below 5707 and it could be heading back towards the 5-day 50% level, as part of the 2-day stall reversal after the change of the 3-day cycle

Stopped out on two occasions this morning using the above levels

Long 5710 5702 -7
Long 5698 partial exit 5710 +12 stopped 5693 -6

Double R44 low @ 5668 has found support and closed an intra-day gap from Tuesday.

On sidelines for the moment....