SPI Daily 11th February 2011 recap

The SPI is back into the resistance levels @ 4883

if below the expectation is down into the daily 50% level @ 4861... (and possibly lower)


SPI Monthly and Daily

As noted in last Week's Report (Weekly)... around the February highs would hit resistance...

And the Quarterly highs @ 4883 would try and push the market back down.

My expectation that yesterday would try and move down, but today presented the exact same set-up.... use the higher timeframe levels as resistance @ 4881/83 

The February highs completes the 2-month wave pattern within the current Quarterly cycle

Personally, I wouldn't want to buy into the market at these levels. I would want to see the market move back down into trailing support levels.

However, as noted in last week's report...

There is a Primary cycle that is trying to send to market up towards 5093 by the 2nd Quarter.




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