SPI Daily 17th June 2011 recap

Today's trading is based on whether the JUNE lows supports the trend and Friday rises upwards...4515-22 (resistance)

or whether the Market follows the 5-day range towards Friday's lows:- trend guide 4484.




SPI Weekly and Daily range


Market opened above 4484 and pushed up towards the resistance levels @ 4515-22, as part of retesting Thursday’s breakout.

Once the market reversed below 4484, the trend bias was to continue towards Friday’s lows.

However, the June lows @ 4460 continue to support the current downward trend.

Weekly report out tomorrow

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