SPI Daily 19th July 2011 recap

Overnight the SPI hit the July BUY zones, and today is about whether the day session will do the same.

Trend guide 4445

SPI Weekly and Daily range

The day session failed to move down into the July lows and support levels, instead it remained once again choppy around the daily filter @ 4445 with little range movement.


These BUY zones in July need to be validated with 5-day high breaks, simply because the same BUY set-ups aren't aligned with US markets, and the negative news regarding the rasing of the debt ceiling could push the market lower.


Trading above the blue channel highs in the 5-day range will be the first sign, and also the Weekly level @ 4464









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