SPI Monthly & Weekly cycles
The Australian market continues to Hover around the October highs:- Random resistance,
Whilst US markets come under selling pressure, the Australian market has done well to remain at these levels.
The overall trend bias is UP towards 4800+, but that will depend on how well US markets find support around their own October 50% levels (READ US Index report)
If the SPI is below 4468 next week, the expectation is that it's coming back down towards the Weekly 50% level.
With long term support around 4272 to 4232
