SPI 31st March 2011 Daily recap

Spiral filter and channel @ 4851 is my support level for early trading, with the expectation that the trend is moving towards the highs @ 4882/84



SPI Weekly and daily range.

My view was that the SPI would continue towards 4882/84, as part of the Weekly trend, and also the break and extend pattern from Wednesday’s highs into Thursday’s high.

Instead the market moved down 21 points, and remained below 4851 until later trading.

A continuation of the move towards 4884 will depend on the price action in the S&P 500.

Above 4884, and the next upper target is 4950 (March highs)



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