SPI Trading 25th March 2008 part 2

SPI 9:55

SPI has opened at the higher end of the range (much higher than expected) and expectant resistance around 5417.

Weekly resistance highs 5443

The market has opened above the 5-day range highs 5352, so the expectation is that price will try and close the gap on the downside:- previous 5-day range @ 5369

However keep in mind that price is trading outside the 5-day break, therefore after the expectation of gap closure I don't see much room for any further weakness after the gap closure.

Short 5410....