SPI Daily 13th July 2011 recap

"Trend guide 4468/70

if the market is above 4468/70, then there could be a swing back towards 4512-22

Initial move is 42 points from yesterday's lows"

 
SPI Weekly and Daily range

The trend guide was based on the Weekly lows @ 4468/70…

If above the initial move upwards was 42 points from yesterday’s lows @ 4501

4512-22 was seen as resistance as part of an ‘inside day’.

Any further gains tomorrow and it’s likely to move towards the Weekly 50% level @ 4542 and close Tuesday’s breakout gap.

If the S&P continues down overnight, and the SPI is below 4468/70, the trend bias is to move towards the daily lows and 4405







Posted by