SPI Futures Australian Stock Market 5th September 2011 recap

Resistance levels @ 4191-97

First target down is 4161 and then towards Monday’s lows @ 4135-37 (matching Weekly 50% level.

 
SPI Weekly and Daily range.

 The SPI has continued down on Monday, reaching the Daily lows, which match the Weekly 50% level. (4135-4137)

Often this can result in a swing upwards, helped by a matching support pattern in the S&P 500

However, this isn’t one of those times, as markets are in the process of being rejected down from their September 50% levels....

 and the S&P is being pushed down from its own Weekly 50% level.
















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