SPI Daily 18th MAY 2010 recap

I'm unsure as to whether the SPI continues upwards on Tuesday or it remains below 4544-49

Trend guide 4533.

Opens closer to 4533 and trading below price could see revisit the channels lows once again



SPI Weekly and Daily range

SPI opened on the spiral filter @ 4533 and sold back down into Tuesday’s lows which match the MAY lows @ 4457.

Support @ 4457 and a late reversal pattern upwards into the close:- 42 points

There are two patterns at play this week:- above 4549 and a short-term swing back towards the Weekly 50% level @ 4646.

However, anything below 4457 and there is a weekly break & extend pattern with a target towards 4328





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