SPI Daily 7th July 2010 recap

My view remains a move back down towards the July lows or a lower Weekly close by Friday.

Trend guide 4263-66

With a view for the R42 range to complete down.



SPI Weekly and daily range.

Yesterday’s reversal into the Weekly 50% level would normally set-up a move down towards the July lows.

Yesterday’s trading was a minor short-term counter-trend pattern from 4170 into 4322, which will often see the trend gradually rotate downward until Friday.

Today’s price action open below and failed at @ 4363 in early trading, moving down 42 points and then a consolidation pattern to close out Wednesday.








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