SPI Daily 27th July 2010 recap

4525 is seen as resistance again.

If the SPI struggles to rise higher than 4491-93 then the trend bias is a pullback is towards 4452 to 4464.



SPI Weekly and Daily range.


Based on today’s levels in the daily range, whilst below 4493 the pullback was towards the July 50% level @ 4464, and could have moved as low as 4452.

Daily low 4463.

Trend bias is now up towards 4534 (Weekly highs) and then 4572 later this week

However, those upper levels in July are based on the S&P remaining above 1092-99.






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