SPI Daily 11th March 2011 recap

There is a breakout of the Weekly lows @ 4772, which in my opinion will extend down towards next week's lows, however Friday can move upwards, before continuing lower next week.

Trend guide 4667



SPI Weekly and Daily range.

Friday’s trading was simply based on whether the market was going to swing back towards 4711, or continue down.

Thursday’s break and extend pattern completed down into Friday’s lows, however it couldn’t remain above 4667, instead remaining range bound between the levels in the daily range


S&P currently remains above the support level @ 1293, therefore if it rises upwards the SPI can open higher, but I'll still have the view that price is trying to move down towards 4584-90


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