SPI Daily 13th July 2009 reacp

"As per Weekly report, I have an expectation that whilst below the 3-day cycle high @ 3763 price is heading down into the Weekly lows.

3771 is the 5-day 50% level:- resistance, along with the Spiral highs @ 3767

Trend guide 3754"

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SPI Weekly and 5-day pattern

SPI continues down today as part of the July pullback towards the lows @ 3580.

Resistance was based on the 5-day 50% level, and I expected price would move up into those levels before any potential down move would play out from a spiral high @ 3767-6771

Instead price moved up into the Trend level @ 3754 and sold off completing the range movement down and heading lower. ....






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