SPI Trading 20th March 2008 part 2
SPI 10:10
SPI rallied on open and moved into an R22 rejection pattern under 5254, sending the market down into the 5-day 50% level @ 5202..
Any further weakness down towards 5164.
Personally I didn't get filled to short trade down.... bummer hitting a high @ 5253
And went long @ 5202 and stopped @ 5195 -7
Price looks to be pushing lower as part of the 1-2 day reversal pattern after the change of the 3-day cycle.
Posted by
Frank Dilernia