SPI Daily 9th February 2010 recap

"What do we notice about the blue channels in the 5-day range? Price is still outside the blue channel

If the R42 completes down @ 4835, then price will be inside the channel and matches the daily lows in the day session @ 4432

R42 rise back towards 4470:- 42 points"

Premium Report


SPI Weekly and Daily range.

SPI trading around higher timeframe support levels (February lows) and trading within the daily range and 5-day filters.

Today moved down into support levels @ 4432 and reverse back towards the filter in late trading @ 4770

This completes the 2nd day around support levels but without the swing back towards the Weekly 50% levels, and it will now depend on whether the S&P 500 continues up towards resistance levels…(weekly 50% level)

Or follows my view of a potential Tuesday down move towards the Weekly and Monthly lows over the next 2-days





Posted by