SPI futures Australian Stock Market 1st September 2012

SPI Monthly and Weekly cycles

As noted in last week's report, there is a ton of resistance around these highs & 4389

Because there's a break out from 4290 the trend can continue to move up towards the September highs @ 4406 to 4451

However, after reading the US Index report, there is also the potential for the Aussie market to come down and test Support levels within the cycles @ 4228