SPI Futures Australian Stock Market 2nd November 2011 Daily report

Because the market is trading around the higher timeframe 50% level, the view is that the market will try and rise upwards today, (42 points)…

Weekly and Daily lows support @ 4146.

Target 4216 or 84 points up from today’s lows.


SPI Weekly and Daily cycles

Early weakness down into the daily &  Weekly lows, and then a rise of 42 points.

The market then moved back down into support.....

and then proceeded to move upwards, failing to reach the precise 84 point range (4211) & 4216

Trend bias remains the Weekly lows



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