SPI Daily 4th March 2011 recap

Today’s trading is based on whether the market comes back and closes the gap

Or whether Friday breaks out and continues upwards.

Trend guide 4850 (Weekly 50% level

SPI Weekly and Daily range.

The SPI has continued the current reversal from the March 50% level with a breakout of the highs on Friday.

Today was either going to close Yesterday’s gap, or breakout.


As noted in today’s report..

"We currently have a price pattern that is rising up from the MARCH 50% level after a double monthly high pattern in February, and this often set-ups up further gains towards the monthly highs in March, and then a continuation of the trend into the 2nd Quarter highs in April

With a lack of weakness in US markets on Thursday, I can’t see the S&P following a larger reversal pattern down, as per Weekly report"






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