SPI futures Australian stock Market 29th September 2011 daily recap

There are two plays in early trading...using 4022-25 as resistance.


continues down from 4022 & below 3997, and moves down to 3980, this will form the next spiral filter...(random swing point)


Therefore 3980 is a potential swing point 90 minutes, which could result in Thursday moving into a consolidation 'choppy' trading day', but as high as 4033

SPI Weekly and Daily range

Early sell pattern down into 3980…

This formed support on the 2nd bar, and then price reversed back up towards 4022-25.

4022 was the top, resulting in a consolidating trading day above the 5-day 50% level @ 3997, with an upward bias...

but below the Weekly level @ 4025 (remains bearish)


























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