Aussie Index (SPI) 6 FEB 2010 Weekly

SPI Futures

Short-term counter-trend move up into the 50% levels in February and the rejection down into the February lows.


Overall target during the first Quarter is around 4300...


However, this might not happen as February's lows could end up supporting the market until March.

The key level in the SPI next week is 4463, and whether it follows another pattern as last week and rotates back towards the 50% levels


And that will depend on the price action in the S&P early next week.


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