SPI Trading 7th February 2008 part 3

10:20...

SPI moved up 22 points from lows, completing the R22 spiral top and then being pushed back under 5574....

Entry short 1 lot @ 5571
Exit on R22 low @ 5559 (+12)

At this stage of the Trading day it's going to be choppy and the only trade I will trade again is to use the R11 trio tops to trade downwards only if below 5574....

As I mentioned in the morning report, there is a lot of support around these levels, and if there is going to be any selling, it will probably be in the afternoon....

At this stage I probably won't look to trade Longs again, as price could be moving into 5-day lows:-