SPI Trading 14th March 2002 part 4

SPI 12:08

SPI completed the R44 range down from open and has moved higher into another R44 range around the 5-day 50% level.

This is the first time in a while that this price action has occured, and still remains inside the Weekly lows @ 5165.

A breakout above today's highs in the afternoon could result in the market moving towards the upper target of 5284....

I did'nt switch into longs because I was waiting for the gap @ 5166 to close (low 5171), and silly me I missed a nice long back into the highs.

I switched back into shorts @ 5213 partial exit 5203 +10 ..... (stops 5218)

Random expectation market can swing around another 44 points like Tuesday, or break higher and continue the move towards the upper targets, which looks like happening.