Aussie Index (SPI) 22nd October 2010 Weekly

"based on the current price action in global index markets, there is a possibility that the rest of October moves into a sideways pattern until the start of November using 4582 as a trend guide and Support"

Previous Weekly report

SPI monthly and Weekly

This week has seen another 5-days of sideways price action, as the Australian market continues to consolidate above 4582, whilst the S&P 500 continues to consolidate below 1182.

Trend guide during this Quarter is to continue towards 4900....

But for next week, it looks like more consolidation between the Weekly levels.