SPI Daily 6th January 2011 recap

"the trend guide is yesterday's level @ 4735.

if below it is moving down into 4713..

if below 4713 then it’s moving back down into 4703 (Support)

Resistance 4764"



SPI Weekly and Daily range

4703 is seen as major support during this quarter, however the market
continued down following the daily range dynamics, but it then keeps on being propped up above the January 50% level @ 4703

4703 continues to be a major support level during the first Quarter of 2011, whilst price remains trading above the weekly lows.

However, the S&P is now nearing the January highs @ 1280.



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