SPI futures 9th August 2011 recap

SPI Weekly and Daily range

Daily chart says it all, because I never saw it coming today, even though a counter-trend move upwards was always going to happen.

However, My expectation was for the market to remain below 4855 and move down into 3690.

Today's price action has moved back to close Monday's breakout...

along with the possibility that the market could make its way back towards my original view of retesting the Weekly 50% level, if US markets follow the same pattern