The last 44 point range from Friday needs to complete before it moves into Monday's trading"....
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SPI Weekly and 5-day pattern
SPI completes the last 44 point from Friday down resulting in Monday's trading below the 5-day 50% level and a move down into 3532.
Very thin volume and volatility on today's trading as traders wind down into the Xmas holiday break.
The important part on today's trading was the test of the Weekly filter (Brown) @ 3532 and buyers appearing off the lows in after market trading.
Any higher moves this week ( next 2 days), has to begin with US markets moving higher on Monday allowing the Aussie market to open above 3606 tomorrow.
If US markets move down on Monday and the SPI is trading below the Weekly lows tomorrow, then we can kiss goodbye any move upwards.
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