SPI Daily 13th January 2010 recap

"We have a breakout of the range @ 4884 and there is an expectation that a breakout pattern will extend down towards the Wednesday lows @ 4815, which match the Weekly 50% level @ 4815-19

Resistance @ 4877 (Note:- R42 high 4871)

Therefore the trading range is 4815-4871.

Trend guide 4855 expectation to push down 21 points, and then towards 4815"

Premium Trader



SPI Weekly and 5-day pattern


Early push down from 4855 and 21 points, but the rest of today remained in a tight sideways pattern, rotating in 21 points ranges

“I can’t see the market rising higher than those levels today, but it won’t surprise to see Thursday and Friday higher:-

Basically there is a potential 2-day counter-trend move from tomorrow as the market is above the Weekly 50% levels” .....morning report

Depending on the price action in US markets, and even though I have a view of a larger Trend reversal from these January highs, it won't surprise me to see a 2-day counter-trend move starting from tomorrow.

That will depend on where the market opens tomorrow....





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