SPI Daily 5th January 2010 recap

"Once again it's simply case of trading on the side of the pink filter @ 4938.

Below and expectation is price is pushing down 21 points, but thereafter I'm not sure how much more downside there will be on Tuesday"




SPI Weekly and 5-day pattern

Expectation that price is moving towards the Weekly and January highs @ 4968....

but today was based on fading the open from the Spiral point @ 4938, and taking profits around 21 points down.

I wasn't expecting more downside, but a consolidating pattern around these levels.


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