SPI Daily 19th January 2011 daily recap

Based on the current price action my view is that the SPI will continue to move towards the January highs @ 4844, with the levels providing less resistance than on other occasions.

Support 4774

Likely to breakout of the Daily highs and continue upwards.



SPI Weekly and Daily.


Ideal set-up today aligned with price moving down into 4774, and then validating it with the closure above 4780

As noted 2-days ago, and with today’s morning report…

Daily and Weekly highs have less probability of resisting this week’s trend, as it moves towards monthly highs @ 4844.

And Wednesday continues upwards as part of trend that started from last week’s lows @ 4675, followed by a breakout of the highs....

And likely to move towards tomorrow's daily highs.



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