SPI Daily 30th December 2010 recap

As mentioned yesterday, we have seen US markets and currencies move lower only to HOOK back above the Weekly levels and continue to follow an upward trend.

For that to happen the SPI needs to be trading above those levels :- 4787-91.





SPI Weekly and Daily range

Ideal long trade would have been a lower open around 4772 for a move upwards.

Instead the market opened near the trend guide @4787 and consolidated for most of the day between the levels in a tight trading range



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