SPI futures Australian stock market 6th October 2011 Daily recap

Weekly cycles suggests more upside, and price is either going to continue towards Thursday's highs, which match the Weekly 50% level...@ 4056-58 (resistance)


or it closes yesterday’s gap on open (21 to 42 points) but remains above 3951

SPI Weekly Daily cycles

The SPI didn’t close yesterday’s gap ( from 4000-4007) , but has continued upwards as part of the Weekly cycle  low support pattern


The most logical attraction zone is the Weekly 50% level @ 4056, but it was also seen as a resistance level, along with the matching Daily high @ 4058

However, resistance only lasted 18 points on the open and  only 18 points @ 4058.

and the market has continued upwards rotating towards the monthly 50% level in October @ 4109…













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