SPI Daily 21st MAY 2009 recap

"There is a Weekly HOOK pattern and this normally favours a higher Friday close.

Unless Support breaks @ 3800, then the bias is to move up today and another 40-44 point range.


Support 3795-3800"


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SPI Weekly and 5-day pattern

2-day stall above the Weekly 50% level, and today rising up from support @ 3795-3800.

The SPI has struggled to move more than 44 points in a trading day, but based on HOOK pattern probability, price should continue towards the Thursday highs and into Friday during sycom.

That's also based on US market's 2-day stall above the 3-day cycle breakout, which should continue higher from support (Report below)







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