Aussie Index (SPI) 26 Dec 2009 Weekly

SPI Monthly and Weekly

"Friday's price action often suggests that next week will begin with a 2-day UP move:- random length.

Tuesday is above 4690, then there is a bias to move into a higher Weekly close and towards the Weekly highs @ 4811"...... (Previous Weekly report )

Last week’s played out as expected after the price action in the previous week and Friday’s pattern suggest the market would begin with a bias of the first 2-days rising. Once there was a 5-day pattern breakout on Wednesday ( above 4690) the rest of the week expected to trend upwards.

At this stage the trend remains buoyant and most likely continue towards the January highs in the first Quarter.

I should have a better idea on market dynamics after 1 more week and potential trends for 2010.