SPI Daily 2nd February 2011 recap

keep an eye on is the previous brown filter @ 4775

if above this level it will continue to push upwards today.

if not it is likely to push down towards support levels @ 4745 (Weekly 50% level)


SPI Weekly and Daily range

With the market trading above the Weekly 50% level @ 4745, the expectation was that the trend was moving up towards the Daily highs @ 4798

Early rise upwards of 21 points, but then it struggled to rise higher than 4775, drifting lower into the close and remaining in a tight 21 point range.





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