SPI Daily 23rd January 2009 recap

"Today is all about trying to pick what the SPI is going to do on Friday....

Does Friday break the Weekly lows and continue down into a lower Weekly close?

Or Does the SPI move back towards the 5-day 50% level late in the day, and close around it's mid point.

Yesterday's high was a perfect 87 point top, so we still favour a move down from yesterday's top 87 points

If Price is trading below the Weekly lows @ 3426 there is a lower Friday close, and it's part of the monthly trends down towards January's lows"

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SPI opens below 3426 and doesn't look back, as it breaks the Weekly lows and heading down towards January's lows which will probably reach by next week.


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