SPI Trading 10th March 2008

Please read the Weekly Report before proceeding....

SPI will open much lower today, and will be defined by the 5-day range @ 5181.

Above and the gap from Monday to close (44 points up)

Below 5181 and the Weekly lows and it's pushing down towards March lows this week.

Depend on where the market opens, but under the 5-day lows, I'd look for a 22 point rejection pattern to trade down.

Again the 'spiral point' around 11.00am should give traders a 'trend-bias' for the trading day until the afternoon, using smaller ranges.

Note:- Trading below the 5-day lows and patterns often only move in 44 point ranges.

We saw this on Monday and Friday last Week...