SPI futures Australian Stock Market 2nd September 2011 recap

After yesterday's fake breakout of Thursday's highs, and the failure of the S&P m to continue higher, it now looks more like markets will move lower..

Today:- trend guide 4265.

Break of support @ 4236 look for more weakness towards 4181.


SPI Weekly and Daily cycles

After Yesterday’s breakout failure, today had more reason to sell down using the Monthly 50% level as the trend guide


Along with more weakness with a late close below support @ 4236, but that didn't eventuate towards 4181 (maybe during sycom)

Friday’s sell down has all the hallmarks of following the September low pattern over the next 10-days.

Unless a miracle happens overnight with better than expected payroll numbers in the US overnight….

Current price action suggests more weakness in September

Weekly Reports out tomorrow, which should make for interesting reading.










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