SPI Futures Australian Stock Market 2nd April 2012 Daily recap

Trend guide Monday’s highs 4383

Because of Friday’s high pattern, possibility that this week begins with a 2-day reversal

First target the next spiral filter @ 4342

SPI Weekly and Daily cycles
Overall trend bias was to push up towards this Weekly and Monthly highs.

The Market opened above Monday’s highs, but once back inside 4383, the trend bias was to move lower…. (42 points)…and form the next spiral filter @ 4342.

Monday’s trading is the first day of a 2-day reversal.

Weekly level @ 4322 will define whether Tuesday remains supported…

Or the 2nd reversal day continues down towards the April 50% level @ 4267






Posted by