SPI Trading 7th July 2008 Recap

"If the SPI is going to have an UP bias, then it should be rising upwards and moving towards 5125 today... re-testing 5042 and then continuing higher.

Even though I've factored in a possibility of further weakness towards 4876, I'm favouring continuation upwards.

Note : High risk trading longs below 5042..... as it's following B set-up from the Weekly Report"

Morning Report




SPI Daily and 5-day pattern

SPI opens below 5042 and moves down into an R44 low, and then consolidates below the March lows of 5013 for most of the day.

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