SPI Daily 25th March 2009 recap

"At this stage I still have to treat the UP trend still in play whilst price is trading above the Monthly 50% level and the 5-day 50% level.

Until that 5-day 50% level breaks then I'm going to continue to trade on the long side.

support 3570-73

Target upper channels"

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SPI Monthly and 5-day pattern

Expectation that today would continue higher, but once again it failed to reach my precise entry around 3570.

Once the upper channels reached @ 3634, there was an expectation that any weakness would push the market back down at least 44 points.

At this stage there is a bias to continue higher in March, until prices start trading below the 5-day 50% levels.

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