SPI futures Australian Stock Market 9th December 2011 Daily recap

4209-11 is seen as support and the trend guide on whether there Friday consolidates for most of the day (ABOVE SUPPORT) 21 point ranges, but below Friday’s lows 4230-52

If below 4209 then the trend bias is down towards the December 50% level @ 4134


SPI Weekly and Daily cycles.

Early rise up from 4211 (spiral filter low) 21 points, but because of Friday’s lows, along with a breakout in US markets, there is an expectation that there would be further weakness in global markets in the short-term.


The Continuation down towards the December 50% level @ 4134 will depend on how US markets react to their own Friday 5-day low random support pattern.


Weekly report out tomorrow


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