SPI Daily 17th June 2010 recap

My expectation is that the Weekly highs are forming resistance and there is a possible 3-day reversal pattern back towards next week's 50% level.

Below 4562 my view is down

Random support 4519-22



SPI Weekly and Daily range.

Spiral filter @ 4555 provided the trend guide for a move down into support.

Range length was 42 points down and then a move into consolidation/rotation

Even though 4519 can support the market during the day session, I still have the view that the market is heading towards the daily lows by Friday.

This based on the Weekly high Resistance pattern seen yesterday.

However, any moves lower will be dependant on price action in US markets overnight.







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