SPI Daily 29th MAY 2009 recap

Last day of the month and where the SPI closes today and where it opens on Monday will have a bearing on early June, as I'm looking for a continuation upwards in June.

Friday:- At this stage the trading range is shown between the blue channels :- 3758 & 3791.


Either side of those levels don't fight the trend, as price is likely to move away 40-44 points

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SPI Weekly and 5-day pattern

SPI openned near lower support @ 3758 and continued higher breaking the upper channel @ 3791.

Once above that level, there was an expectation that prices would continue with the break 40-44 points.

Once that played out, along with the Spiral top high, there was a late sell into close.

Weekly report out tomorrow



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