SPI Daily 3rd July 2009 recap

"5-day low breakout overnight @ 3819, as price is pushed down from the Weekly 50% level breaking the July support levels.

5-day breakout has two patterns based on Resistance @ 3804

Could see the SPI continue down into Friday's lows @ 3738.

However,whenever price breaks those lows I would look for a swing back into those levels to confirm the break @ 3820.

I'm not expecting that to happen to today, but I will be looking for that move early next week."


SPI Weekly and 5-day pattern

Another choppy trading day with little range length.

My preferred options today didn't play out...

Sell down on open towards 3738...

or at least swing back into a higher 42-44 high @ 3804 and sell the market down again.

Both failed the eventuate..

Weekly report out tomorrow.




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