SPI futures Australian Stock Market 22nd Sept 2011

Resistance 4006-4011

Breakout of the 5-day lows and Weekly lows could see the market continue down into the September lows.

Random support 3967.


SPI Weekly and Daily range.



There was an expectation that last week’s lows @ 4006 and the spiral filter @ 4011 would act as resistance and continue down 42 points towards 3967.

Because price is below the Daily and Weekly lows (4002), there is an expectation that the trend is moving lower…..

With the possibility that price is continuing towards the September lows during the current month of September




















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