SPI Daily 12th MAY 2009 recap

"Closer to 3896-3902 and expectation price is moving down into 3857.

3852-3856 is valid support today, but keep in mind that Tuesday's 5-day lows are around 3840

Because of the expectation of lower prices in MAY:- if I'm trading longs I want to be taking quick profits of 20 points.

If price matches resistance I want to be holding shorts for longer:- 44 points"

Premium Trader




SPI Weekly and 5-day pattern

Flat day around support on Tuesday:- Weekly 50% level

SPI didn't open high enough or trade around resistance today to get into ideal 'short-trades' today.



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