SPI Daily 16th February 2009 recap

I continue to be bearish on the SPI, and the trend guide for this week is 3499.

Once again we have a higher Weekly open, with the view that whilst below 3499 price is moving down into a lower Weekly close:- random length.


Depends on where the market opens on Monday, but around 3503-3499 I'll be looking to short for the completion down into the R44 low.

3462-70 is random support

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SPI Weekly and 3-day pattern

higher open below 3499 and a move down into support.

Monday ended up a consolidating trading day between 3503 and 3462....

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