SPI Trading 8th February 2008 RECAP

RECAP:-

Today's trading was all about price trading in relation to the 5-day 50% level, the Weekly 50% level, and the Dilernia Pivot.

Because Price didn't test the Pivot early in the Day, and Price trading below the 5-day 50% level, the opposite occured today compared to the previous two Friday's, with a late push down into 5585...

Note: Because Price has tested this level, we use this level to trade longs next Week, or it could just open higher based on US markets moving higher (US report below)