SPI Futures Australian Stock Market 1st November 2011 Daily report

Trend guide 4243-47:- Trend bias is down, but today could also have a similar pattern as yesterday, defined by the spiral filter and blue channel lows (4243/47)

 Yesterday moved down 21 points from the spiral filter and then rose upwards 42 points.


This could happen today from 4225

SPI Weekly and Daily

Early move down from 4247 into 4225 (21 points)....

and then a rise of 40 points (not 42 points)....

and then more weakness into the close, which was a similar pattern as yesterday...

as the market continues down towards the November 50% level




Posted by