SPI Futures Australian Stock Market 10th October 2011 Daily recap

Because of Friday's close above the Monthly 50% level and Weekly highs, there is a tendency for the market to continue upwards in the short-term.

Therefore our trend guide/support is based on the Weekly level @ 4152

Random resistance @ 4219

SPI Weekly and daily range…


Early selling pressure moved down into the Weekly level @ 4152, providing an ideal support base for a move upwards…

This saw the market rise 42 points and then continue into 4219, which then pushed the market back down into a holding pattern.



Posted by