SPI 18th March 2011 Daily recap

Friday's trading is about whether the Market remains below the higher timeframe levels, or continues up towards 4631, and then higher into next week's levels.

Trend guide 4582



SPI Weekly and daily range

Today was the first day that the daily channel highs @ 4572 caught up with the current price action.

Once above the channel highs, and also above the March lows @ 4590….

Friday’s first target was 4631, however it has continue to trend towards Friday’s highs @ 4667, as part of a swing back towards next week’s 50% level.

Current price action suggests that the swing will move back towards retesting last week’s breakout, matched with the Weekly 50% level.



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