SPI Daily 27th July 2011 recap

Trend guide 4542 & Support 4516

my view is that the market is likely to remain range bound between support.

However, it may move towards the extremes later in the day...that being down towards the 5-day lows

SPI Weekly and Daily range

Wednesday trading below the Weekly 50% level and also the daily trend guide @ 4542.



Trend bias was down into 4516 (support), which resulted in more weakness later in the day, but a failure to continue down into the daily lows @ 4487










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