SPI Daily 2nd February 2009 recap

"Expectation that after last week's higher close, the start of February would begin a move down towards the lows over the next 2 weeks.

Monday:- Trend guide 3445

Whilst price is below the channel lows and 5-day 50% level (3435) expectation price is moving down.

Above and the SPI is moving back towards the Weekly 50% levels once again"

Premium Trader




SPI Weekly and 5-day pattern

SPI consolidate on Monday, mostly trading between 3445 and the Weekly 50% level.

I'm bearish on the SPI whilst price remains below the Weekly 50% levels,

But today remained above the 5-day 50% level, as did Friday.


Posted by