SPI 30th March 2011 Daily recap

SPI trading around Wednesday’s high and the Weekly level @ 4804

Today’s trading is based on whether the market remains below these levels…

Or whether the trend continues higher, and towards the Weekly highs @ 4884

Resistance 4810-4816




SPI Weekly and daily range.

At the start of the day my view was that the SPI would move down from resistance and continue towards 4770/72.

The market opened around resistance levels, therefore that’s the way I looked at it.

However, that changed by 11:20 am with the timeframe close above those levels forming support.

It didn’t reach the highs @ 4878-884, but any further gains will depend on the price action in the S&P 500 overnight.