SPI Daily 8th June 2010 recap

Major support 4296-4300.

Trend guide 4339

Resistance 4391-96.





SPI Weekly and daily range.

Major support at 4296- 4300, but at the start of the day I wasn’t expecting the SPI to move beyond 4360-62. (Weekly 50% level)

There were a number of resistance levels along the way, but they only one that stalled the SPI from rising was the 5-day 50% level @ 4391 providing 21 point reversals.

Daily close above the Weekly 50% level has the market remaining in a large consolidating pattern during June.


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