SPI Futures Australian Stock Market 7th September 2011 recap

Trend guide 4135 (Weekly 50% level)

Either the market remains below this level and moves down 42 points…

Or it continues upwards.
SPI Weekly and Daily cycles

The market opened above the Weekly 50% level @ 4135 and has continued towards a higher daily close.


The only random resistance zone around 4160 ( providing 21 points), but it then continued upwards and has moved back towards retesting Monday’s Breakout @ 4199.

S&P has continued higher during globex hours, closing above the Weekly and Daily 50% levels, and forming a potential Weekly HOOK pattern.

This is on the anticipation that Obama is coming out with a new jobs package on Thursday











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