SPI futures Australian Stock Market 24th January 2012 Daily recap

After yesterday’s support off the Weekly level @ 4186

My view is that price will rise up from 4204 and moves towards Tuesday’s highs @ 4237/42

SPI Weekly and Daily cycles.

4204 didn’t support today’s trend....

instead the market moved back down into the Weekly level @ 4186 once again....

As the S&P 500 stalled at the January highs @ 1314.