SPI Daily 17th February 2011 recap

we have the same pattern as yesterday…

If below 4918-25 trend bias is to move down towards the channel lows @ 4886 (42 points)




SPI Weekly and Daily range...

Either the SPI was going to continue towards the Weekly highs, or remain below 4918.

It remained below 4918, but it didn't complete a 21 to 42 point down move.

Instead the previous days level @ 4910 provided support, as what happened on Wednesday. (Tuesday's level @ 4894) provided support



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