Next Week:- Weekly level @ 4082 could see the SPI rise back into the Weekly 50% level @ 4182
SPI Monthly and Weekly
My view was that the trend would continue down towards the September lows...
however, as mentioned in last week's report, the weekly lows could form a support zone and swing the market back upwards.
Next Week:- a lot will depend on the S&P 500, and whether it starts next week with a 2-day reversal pattern back down. (read US Index report)
Therefore the trend in the Australian will be defined by the Weekly 50% level @ 4160.
The monthly cycles don't favour more gains in the current month, but if it's above 4160 then the bias is up.
