SPI Daily 28th April 2011 recap

Today’s trading is based on whether the SPI moves  towards the daily highs (Weekly level @ 4960)

Or..

Remains choppy within the levels of the daily range

Random support 4891-93

SPI Weekly and Daily range

My view after yesterday’s gap closure, and above the Weekly 50% level (4893) , the trend would continue towards the daily highs, as part of a move towards the Weekly level @ 4960

The bias did rise after touching 4891-93 but it failed to move higher than 4913 (spiral filter), resulting in a choppy trading day, with a downward bias

As noted yesterday….

The Weekly lows & the MAY 50% level will define whether the trend remains with an upward bias








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