SPI Trading 13th March 2008 part 2

SPI 10:30

SPI consolidating under the 5-day 50% level from Wednesday, and has played out two
22-point rejection patterns, with the highest probable pattern being the 2nd R22 rejection....expectation that the R44 will complete @ 5195.

Entry short 5318 exit 5310 +8

Entry short 5324 exit 5309 +15

Very choppy this morning

Note: after R44 completion it has a random outcome on direction, and with price trading below the 5-day 50% levels it can easily continue lower.....