SPI Trading 23rd July 2008 recap

"Expectation SPI is moving higher towards the Monthly 50% level in August, and could rise as high as 5103 today, depending on how BHP reacts to its own Weekly 50% level.

If there is a sell off on open down into 5007, this will align with an R44 low, which could end pushing the market higher into the close. "

Morning report


SPI Daily and 5-day pattern

SPI didn't move down into 5007, but followed the pattern of higher prices back into 5103-14.

My probability of trading longs' up today didn't pan out.

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