SPI Futures Australian Stock Market 31st January 2012 Recap


Trend guide @ 4237

Random resistance 4255      Support 4216-21

My view is that the market will rise up from 4237 and any further gains today will be defined by 4255.

However, The spiral filter doesn’t favour any further gains today, & it won't surprise me to see the market move down into Support (4216-21)


SPI Weekly and Daily cycles

Early rise up into 4255…

And then the market reversed, closing below the daily 50% @ 4237, sending the SPI back down into the Weekly level @ 4221.

Currently the Weekly level is supporting the market, but it will depend on whether there is weakness in US markets tonight based on 1 more day of resistance.




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