SPI Daily 6th April 2009 recap

"Early this week is about whether the SPI is going to continue up towards April's highs @ 3845...

Or....

Follow a 2-day reversal from a higher Weekly open back towards the Weekly 50% level.

We have higher Spiral points, it's a higher Weekly open and trading around resistance @ 3777

Therefore at this stage I favour price moving down towards 3719"


Premium Report



SPI Weekly and 5-day pattern

Early resistance and selling pressure around today's highs but no follow through on the downside, not even completing a statistical range of 44 points

Based on the 5-day pattern extension, it looks like price should complete the move into April's highs @ 3845 in sycom or tomorrow.