Australian Index (SPI futures)
Upside target in the 4th Quarter remain 4900, however as mentioned in last week's report, our market will begin to lose steam once the S&P reaches 1182.
based on the current price action in global index markets, there is a possbility that the rest of October moves into a sideways pattern until the start of November using 4582 as a trend guide and Support.
If that happens then this will lend to more gains later in the 4th Quarter.
Note:- resource stocks have moved upwards during the 4th quarter whilst banking stocks have remained flat.
We might see a change from next week and a rotation pattern occuring in both (banks higher), whilst Resouce stocks take a breather
