SPI Daily 18th MAY 2009 recap

"Last week there was a 5-day breakout pattern and a retest of the breakout pattern on Friday.

This favours a continuation down:- retest and verify the break and continues with the trend.

If price moves down early, then Monday should be defined by 3722 with the expectation of a 40-44 point range completion"



SPI Weekly and 5-day pattern

Early selling pressure into random support on Monday @ 3722

Late range reversal into the close.

The rest of this week should be defined by the Weekly 50% level @ 3789.


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