Australian Stock Market SPI futures 3rd December 2011 Weekly report

Early next week rises upward (3-day rise), then the Weekly level @ 4125 is seen as resistance.

Previous Weekly Report

SPI Monthly and Weekly cycles

 4125 and the Weekly level formed resistance for the first 2-days, but as US markets followed the same 3-day rise this sent the Aussie market back into the Weekly highs by Friday

So we are back to my original view of the market consolidating for the rest of the 4th Quarter.

Next Week:- as long as it’s below 4319, the trend bias is to slip back towards the Weekly 50% level (random support)

With a view that some time over the next 2-weeks revisit the December 50% levels.


Whilst markets are above the Monthly 50% levels, the trend bias is up.
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