SPI Daily 2nd February 2010 part 2

Based on the current price action in the S&P (close below 1087), I'm treating the SPI on Tuesday as range bound between 4575 & 4530.

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SPI Weekly and Daily range.

Range completion at the 50% level @ 4575:- resistance

Depends on the price action in the S&P on Tuesday and whether 1087 acts as résistance pushing the S&P back down towards the daily lows....

Or continues with a 2-3 day UP move as previously described.

Any upside in the S&P and the SPI is moving towards back towards the February 50% level by Thursday’s open @ 4660.








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