SPI Futures Australian Stock Market 23rd January 2012 Daily recap

The position of the filter @ 4223 doesn’t favour an up day....

Potential move towards the Weekly level @ 4188

Random support 4196

SPI Weekly and Daily cycles.

Early selling, as the market was pushed down from the daily filter @ 4223.

Around 4196 price formed a support zone, without the late buying.

As the market tried to move towards the Weekly level @ 4186