SPI Daily 11th July 2011 recap

This week's trend guide is based on the Weekly level @ 4607.

either the market moves down into the Weekly 50% level @ 4542, or it continues towards the Weekly highs and the July 50% level

Support 4575 (Monday’s lows)

SPI Weekly and Daily range.

 Monday opened below the weekly level @ 4607 and moved down into Monday's support levels @ 4575.

There was initial support for about 40 minutes, but then it failed.

Once the market began to consolidate below support levels, the trend bias was to push down towards the Weekly 50% level. @ 4542








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