Australian Stock Market SPI Daily 29th November 2011 Daily Recap

The SPI has retested last week's breakout and stalled at the Weekly level @ 4125

The rest of this week is based on whether the trend continues down towards this week's lows, or whether Monday was the first day, as part of a 3-day counter-trend move upwards.

Trend guide 4074
 SPI Weekly and Daily range..

 Early weakness on the SPI, as part of the Weekly levels acting as resistance.

This saw price move down 42 points from open, where buying support came into the market.
Once price moved back above 4074, the market proceeded to close higher...

And  the trend is now following a 3-day counter-trend move upwards, that could see price move back towards the November 50% level @ 4164...

And Weekly 50% level later this week...





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