Trend guide 4790 downside target Friday’s daily lows (42 points)
SPI Weekly and Daily range.
Expectation the SPI would move down into Friday’s lows @ 4756, but I didn’t expect the ‘flash Crash’ towards the 3-week lows.
I have no idea what triggered that drop, but that completes the
move down into the 3-week lows...
which is the pattern that I normally associate with the market moving down into support and then continuing higher in the following Quarter.
Previously weekly report.
http://austindex.blogspot.com/2010/12/aussie-index-spi-18th-dec-2010-weekly.html
"In the short-term the trend remains stable with an upwards bias, however we need to keep an eye on the possible SPI move down into the Weekly lows @ 4692 over the next 2-weeks...
As this pattern would provide the next 'support' level for the trend to continue
towards those first Quarter highs in 2011"
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