SPI Daily 18th February 2009 recap

"As per Yesterday's report:- the breakout of the 5-day 50% level and expectation price was heading down into 3353.

This will put the SPI below the Weekly lows @ 3375, therefore the market might struggle to rise higher.

Set-up:- opens lower moves down into 3340 and finds support, but then my view the SPI could end up in a small range day between 3340 (R44 lows) & 3375 (weekly lows)"

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SPI Weekly and 5-day pattern

SPI opened lower completing the Primary range down into 3353.

Expectation that the R44 would continue down into 3340 along with the spiral low providing a swing back upwards into a R44 high.

As pointed out in the Premium Report, the SPI will probably struggle to move higher than 3375 today.

As pointed out the the Premium Report:- expectation global markets are heading down into the February lows:- 3128.





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