SPI Futures Australian Stock Market 23rd August 2011 Recap

Trend guide remains above 4071 (first target 21 points to 4094), and with a possible move towards the 50% levels again.

 
SPI Weekly and Daily range.


Same pattern as yesterday with an upward move from 4071 towards the daily 50% levels once again...

but then more upside buying late in the day, as part of a 2-day reversal up towards the Weekly level @ 4206

SPI remains well supported within the Weekly levels, as the S&P 500 remains above the August lows @ 1115....

and going through its own 2-day reversal pattern upwards.














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