SPI Daily 6th MAY 2011 recap

whilst the market is below support levels, it is trying to move towards the MAY lows... and a lower Friday close

However, whilst above 4714, we have the same pattern as yesterday, which could see the Friday try and move up towards the breakout @ 4765... (84 points from the spiral lows)

SPI Weekly and daily range.


My view was that the Market would try and close lower, based on the breakout of support levels, and a continuation of the trend towards Friday's lows

 However, we have the same pattern as yesterday, a rise up from the Spiral filter low @ 4714,  above 4735, and  another retest of Wednesday's break of the MAY 50% (support)







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