SPI Daily 27th MAY 2009 recap

"Price is back above the Weekly 50% level @ 3800:- Support 3800

In the day session charts we have the 5-day highs and 3-day cycle highs @ 3851-53:- resistance.

This should hopefully push the SPI down into Support, and Wednesday could end up a range day between resistance and support 3800"

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SPI Weekly and 5-day pattern

SPI didn't move high enough on Wednesday to get ideal 'short' positions to trade down into Support.

It was another lack luster trading day, with most of the trading day swinging around in 21-23 point moves until late in the day...

A late sell off late in the day, which surprisingly didn't hold support :- closing below.




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