SPI Daily 12th MAY 2011 recap

Current price action suggests that the trend will continue down into the Weekly lows today or by tomorrow

Resistance 4740

The critical level today is 4711-13, and whether the trend continues down or not.



SPI Weekly and Daily range.

MY view was that the SPI would continue to move down, if it opened around 4740…

Instead it opened @ 4711-13, which supported the market most of the day, until late, when support failed, resulting in the trend following the Weekly range towards the lows by Friday (4659-72)







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