SPI Futures Australian Stock Market 27th September 2011 recap

My view is that the SPI will fade the open towards the 5-day 50% level @ 3947.

if above 3980-85, the market will try and continue up towards the Weekly level @ 4025 (resistance)


SPI Weekly and Daily cycles

Early sell on open towards the 5-day 50% level, and then more buying to send the SPI up towards 4025.

This Weekly level can form resistance and send the SPI back down towards the Weekly lows later this Week.

However, that will depend on price action in US markets...

as a rise upwards in the last week of the current month can often see the usual rotation towards the new monthly 50% level in October.










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