SPI Daily 8th March 2011 recap

Trend guide and Support @ 4770-72 (Weekly lows).

Potential move towards 4807.




SPI Weekly and Daily range


The SPI continues to be supported around the Weekly lows in the day session, whilst the 24 hour range shows the market rising up from it’s 5-day lows and swinging back towards the channel @ 4812

The rest of this week’s price action will be based on using 4806-07 as the trend guide.

The S&P 500 continues to show signs of sellers appearing around it's Yearly highs...

However, it fails to break support, keeping the Aussie market above key levels during the first Quarter, and the S&P trapped between it's two Primary levels of 1300 & 1331

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