SPI Daily 31st January 2011 daily recap

my view is that today will try and move upwards.

critical support levels are 4699/702

trend guide is 4714-15

First target 4734

                                                                    SPI Weekly and Daily range.

Early selling pressure, as the market was sold from 4715, towards Monday’s lows

However, once the market settled back above support levels, the trend bias was to move upwards, and continue back towards 4734.

Market remains supported above the January 50% level @ 4702.

Any further gains in the SPI will be determine whether the S&P closes upwards on Monday…

Or fails to rise higher than 1278.50, as the market is now trading below the Weekly 50% levels, as per Weekly Report.






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