Australian Stock Market SPI Futures 23rd November 2011 Daily recap

Whilst the market is below 4164 the trend remains bearish, which could eventually see those Support levels break (Weekly lows @ 4102) and extend lower.

Trend guide 4120 :- Downside Wednesday's lows @ 4085

SPI Weekly and Daily cycles
Negative news came out around lunch time today with ….the Dexia Bailout is On verge Of Collapse, which threatens to take France's AAA Rating Down With It.



This saw the Aussie market break the Weekly lows, the daily lows @ 4085, and if US markets follow, the SPI could end up back down into the November lows over the coming days






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