SPI Trading 11th July 2008 Recap

"trading longs from a higher open and near the 5-day 50% level is not a probability pattern, unless 4972 comes into play.

Because I have no view on direction I need to factor in the Spiral filter.

I'm going to think today is going to be similar as yesterday, once price meets the spiral filter @ 4948....

The past 5-days have been choppy, and I'm not sure Friday is going to be any different"

Morning Report



Recap 15:50

SPI Daily and 5-day pattern


SPI opened at the 5-day 50% level and sold down into the spiral filter @ 4948.

There was a push down into the Weekly lows @ 4929, and once again another choppy trading day to close out the trading week.

Weekly Report tomorrow



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