SPI Daily 18th June 2009 recap

"Yesterday broke the 5-day lows @ 3921 resulting in a breakout.

Normally a breakout of the 5-day range will extend down into the next 5-day range in Thursday @ 3843.

short trade below 3879"

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SPI Weekly and 5-day pattern.

SPI continued the move down from Wednesday's break and down into 3843.

Along with the Monthly midpoint (red), can see a swing back towards the 5-day 50% level and Weekly 50% level @ 3933-53 by Friday

That will depend on US markets on Thursday on further weakness or swing back into a higher open tomorrow.






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