SPI Daily 4th February 2011 recap

I have the view that the market is continuing towards the Weekly highs @ 4816/18, and then towards next week’s highs, which matches the February highs @ 4849.

Support 4788


SPI Weekly and Daily range.

The SPI has completed the move into the monthly highs @ 4849, validated by the breakout of the Weekly highs @ 4816/18

At the start of the trading day my view was an upwards trend, but I was leaning towards the market following an orderly pattern within the Weekly ranges.

Whereas today, the market completed the move with a breakout pattern on the last day of the Week.







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