SPI Trading 24th June 2008 recap

"Today is about whether the SPI continues with the 2-day counter-trend move up (lower Weekly open), or pushes back down towards yesterdays lows.

With the lower open, it's hard to go short on open from a lower Spiral point, therefore I favour a higher move back towards the 5-day 50% level and as high as 5319

And it's simply going to be defined by the lower spiral point filter:- above and expectation it's moving higher (5263)"

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SPI 16:00 recap

SPI opens higher and pushes down into the Spiral filter (5263) and then swings up into 5319, as part of the 2-day counter-trend move UP from the Weekly lows...

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