SPI Daily 31st August 2010 recap

Today's trading range is based on the possibility that price moves up into resistance levels @ 4429-30 (Weekly 50% level and daily level @ 4429)

Below 4375 and trend bias is down towards 4338.






SPI Weekly and Daily range.

Early rise up into resistance levels @ 4430 and a reversal down as part of a larger trend that’s trying to push markets lower.

4295 remains a robust support level on the Australian market and 3rd Quarter consolidation continues, at this stage

However, any further weakness will be due to the price action in the S&P 500 as it drags the Aussie market lower during the 3rd Quarter.

September 50% level is the trend guide starting tomorrow.






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