SPI Daily 18th March 2009 recap

"SPI has reversed into the March 50% level.

These levels are viewed as resistance.

Expectation that price is moving down to retest Tuesdays' breakout"


Premium Report





SPI Weekly and 5-day pattern


SPI reversed down on Wednesday from the monthly 50% level @ 3498 and completed a retest of Tuesday's breakout.

Even though the Monthly 50% level is a major resistance level, which could stall price for the rest of this Month (or not)….

Based on the Weekly high breakout this week, I would treat the market as consolidating between both the Monthly 50% level and the Weekly highs for the rest of the week, and move into a 3-day sideways pattern until Friday.

US markets still have further upside in March, so there is still a possbility that there are higher prices, but I personally wouldn't be adding long positions at these levels without some short-term pullback.

You should are already long from March lows and holding with a partial exit around today's highs and keeping an eye on how prices react to these levels and the April 50% levels.

For Day traders it doesn't matter, simply trade the 5-day trend, levels and use the Spiral points.

Trading SPI June contracts from tomorrow.








  • Daily Trading Set-ups & Analysis

  • Index Futures SPI, DOW S&P, & Forex

  • Subscribe to the Trader Premium

  • http://www.datafeeds.com.au/premiumtrader.html



  •