iQuant predicts limited upside for the week ending 19th July 2013. Short term indicators suggest the 4957 level will hold. We predict market consolidation and a fall to the 4840 -4860 support range

Respect the uptrend which is now 3 weeks old. A break of 4876 increases the downside risk and a selling opportunity may present.

Bulls are on trend and a break of 4957 will lead to a further rally. The iQuant July monthly upside target at 4957 has been hit and further gains may be limited with consolidation seen. A close above 4876 next week will continue the trend and long positions can be held.

Bears need a close under 4876 at the end of next week with a downside target at 4769. The recent bounce in the market has pushed the weekly RSI towards overbought conditions. iQuant expects pressure on the market next week and we wait for the trend to change.

iQUANT FORECAST RANGE 4769 - 4936

PIVOT POINT 4876

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ASX200 report tracks the September ASX200 SPI. The ASX200 index is currently trading at a 40 point premium to the futures. All levels in this report refer to the ASX200 SPI futures

This weeks range of 4769 - 4936 pivot 4876 - equates to 4809 - 4976 and 4916 pivot on ASX200 physical index
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The information contained in this email communication is general information only. Any advice is general advice only. Neither your personal objectives, financial situation or needs have not been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice. Iquant Systems Pty Ltd (CAR No.435627) is a corporate authorised representative of Avestra Capital Pty Ltd (AFSL No. 292464).

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