SPI Daily 23rd March 2009 recap

"There is a breakout of the Weekly highs last week, therefore there is an expectation that the SPI should continue higher this week.

If that is the case then I'm going to continue to look for 'long' trades if they line up with support and a Spiral low"

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SPI Weekly and 5-day pattern


SPI moved higher on Monday towards the highs and stalling around the 5-day tops @ 3561.

The only problem is, it didn't move down far enough to provide the precise entry on support.

Expectation 3561 is resistance on Monday, but the levels will shift tomorrow, and won't be valid.



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