SPI Daily 22nd March 2011 recap

Today’s trading is based on Tuesday's High @ 4696 (resistance) and the brown filter @ 4660.(random support)



SPI Weekly and Daily range.

Even though I have the view that the SPI is headed higher in the short-term (weekly 50% level)….

there was more reason for the market to stall around the 5-day highs @ 4696 and fill the gap down into 4660 (trailing support)

The trend can continue higher tomorrow, as the market dynamics shifts higher on Wednesday, but that will depend on the price action in the S&P 500 overnight



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