SPI Futures Australian Stock Market 23rd June 2012

My view is that the Monthly 50% level and and 2nd Quarterly 50% level will continue
to act as resistance ...

Primary & monthly cycles suggest further weakness (previous Weekly Report)

SPI Monthly and Weekly cycles

both levels acted as resistance, as the June 50% level slapped the trend downward once again...

And the trend is likely to continue down into the June lows

and extend down into the July lows

as part of testing the 2012 Yearly lows @ 3784 (Support)