SPI Daily 30th March 2009 recap

"Expectation the Aussie market is going higher in April, but in the short-term my view is for the SPI to pullback into 3580, as part of a 3-day pullback into the start of April.

Today favours an UP move to close Friday's gap @ 3667, and I'm not expecting too much more upside than Friday's gap closure.

Support as shown"

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SPI Weekly and 5-day pattern

Expectation that price would close Friday's gap @ 3667, either from a lower or a higher open, as was the case today.

Once price close the gap the rest of the day move down into support, as part of the 3-day pullback.

Depending on US markets on Monday, but a 3-day pullback can move down into 3580 by tomorrow.

At this stage I still have the view of price moving higher in April, as long as the Market remains above the Weekly 50% levels....

But i'll judge the 3-day pullback first, as it will close out the trading Month of March and April begins on Wednesday.




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