SPI Trading 25th July 2008 Recap

SPI Daily and 5-day pattern

The SPI's direction today was all about the 5-day 50% level.

If it was trading above 5024 then the expectation was that price would move up into 5107 and reverse back down. (gap closure).

If it was trading below 5024, then the expectation was that it was moving down into 4937 and then look for a short-covering rally off support....

SPI Weekly Report tomorrow...

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