SPI Daily 23rd June 2011 recap

Whilst the market is below 4524 the trend bias is down towards the June lows once again.

Resistance on open is 4517/21

downside target is 4463/65



SPI Weekly and Daily range.

Early rise up into resistance levels, hitting the Weekly level @ 4524...

And once again moving back down:- 42 points

However, today's downside target of 4463/65 wasn't reached.

As noted yesterday's recap, the rest of this week will be defined by 4524, and also the market's reaction to the ending of QE2, which has been negative at this early stage.






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