SPI futures Australian Stock Market 12th December 2011 Daily recap

today's open has such a large gap to Friday close, that early price action could see the market move down on open :- 21 to 42 points.

Resistance 4270-75

SPI Weekly and Daily cycles.

Early resistance around the channel highs and spiral filter @ 4270-75

Completing the 21-point reversal, without completing the 42 point reversal.

As per Weekly report…

Trend bias remains stable within the 4th quarter, with a possible continuation upwards over the coming weeks.

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