SPI Daily 25th January 2010 recap

"SPI trading around Support levels and there is an expectation that the SPI will remain range bound over the next 5-days between support and 50% levels.

The Trend bias is 4625"

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SPI Monthly and Daily range..

SPI opens on support and continues to swing upwards from the Daily lows on Monday towards the 50% levels:- 2x 42 range

At this stage the market is supported, but the next trend will develop when the next month begins in 5-days time.

At this stage it’s too early to tell whether the market closes higher and begins another 'thrust' upwards using the February 50% levels as support.

Or opens below those levels next week and continues down into the February lows.

A lot of that will depend on the price action in US markets into the end of the week.





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