SPI Daily 2nd March 2010 recap

Tuesday’s highs @ 4738 are viewed as resistance and this completes the 2-day UP move.

Two patterns that can occur today using 4715 as a trend guide
1. stalls at 4715 and reverses down into support
2. above 4715 and pushing up into the highs

Support 4681



SPI Weekly and Daily range

Higher daily open and reversal down into support levels @ 4681 once confirmed with price below 4715

Today’s trading completes the 2nd day up expectant UP trend from last Friday.

Rest of the week becomes a random pattern within the daily range using the levels within the model.

There is a change in the 3-day cycle with yesterdays up move, and normally I would look for a move back down or at least a 2-day stall/reversal pattern.





Posted by