Previous Weekly report
SPI futures
The market has continued into a higher weekly close, and with a trend that looks the be heading into higher highs into the first Quarter of 2011.
However, as mentioned over 3 weeks ago...
The only pattern that will put pressure on the SPI is if the 2nd Week in December reverses down from the highs and closes below the 4689...
Next week begins the 2nd Week of December, and if next Friday is trading below 4689 then the rest of December can come under further selling pressure.
Otherwise if long stay long...but be aware.
Note:- Please refer to pages 110 & 111 of my new book, as it describes
in detail these exact same patterns that we have seen over the
past number of weeks
