SPI Futures Australian stock Market 30th September 2011 daily recap

Today's trading is based on whether price remains choppy and closes near the middle of the 5-day range @ 3978

My view is that 4034 might act as resistance in early trading and push the SPI down into 4014... this will form the next spiral filter that aligns with the daily level @ 4014.

My view is that it will then try and move up towards 4046-49 (resistance)

SPI Weekly and Daily cycles

Early sell down from 4034 into 4014 (21 points), this set-up a move upwards using the daily level and matching spiral filter, with Friday reaching a high of 4045

Once the market closed back under 4014, it was going to struggle...

as it tried to close in the middle of the 5-day range.



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