SPI Daily 31st March 2010 recap

"Yesterday I mentioned that there is a possibility that Wednesday could end up a down day because of the lower channel creeping upwards

Break of support and expectation that price will continue down another 42 points towards Wednesday’s lows.

Trend guide 4928

(resistance 4933-38)"



SPI Weekly & daily range

The SPI opened below 4928 and my expectation was that the trend would continue down early, instead there was a spike upwards and then a close below 4933 once again.

This provide another entry for the expected down move towards 4862.

This down move was based on another 42 points down from the break @ 4867.








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