SPI Futures 2nd August 2011 recap

Trend guide 4409

Resistance 4442/45

Below 4409 and trend bias is down towards Tuesday’s lows @ 4374


SPI Weekly and Daily range.


As per Weekly report, whilst below the weekly levels @ 4438/42, there is an expectation that the trend is following a break and extend pattern down into this week’s lows.

Early support @ 4409, but it then failed to move beyond the weekly levels..

Once the market began trading below 4409, there is a bias to continue downward, but it failed to continue towards Tuesday's lows.










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