SPI Daily Australian Stock Market 23rd September 2011 Daily recap

Trend bias is down towards September lows, however today’s support is @ 3882

Resistance @ 4924.

Not sure the market will rise 84 points.


SPI Weekly and Daily.

Expectation 4924 would act as resistance.

This pushed price down more than 21 points towards support levels, but then the news hit the markets around midday…..

G20 COMMUNIQUE WILL COMMIT TO ENSURE BANKS HAVE SUFFICIENT LIQUIDITY AND ACCESS TO FUNDING - G20 SOURCE

This saw the market rise precisely 84 points from today’s lows., which then resulted in a consolidation pattern of 2X42 point ranges, back towards the lows

Trend bias is for the market to continue lower….

However, this news could result in US markets rising upwards once the cash market opens.




















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