SPI Daily 19th MAY 2010 recap

This week can continue down as part of the break and extend pattern in the Weekly timeframes toward 4328 (4109)

Therefore anything below 4430 today has a bias to trend down towards 4388.



SPI Weekly and daily range

This week has seen the Weekly 50% level tested and rejected and in theory should continue down into the Weekly lows.:- 4328

And could travel as far as 4109 during sycom hours.

Today's breakout of the daily range on Wednesday @ 4430 set-up further weakness into the 10 -day lows @ 4388, and more than likely continue down towards 4328 tomorrow.





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