The Australian Stock Market SPI futures 29th October 2011 Weekly

As noted in last week's report... keep an open mind that if the S&P 500 (US markets) continues up towards 1274... the Australian market could be around 4519 during November.

Previous Weekly Report

SPI Monthly and Weekly cycles

 The trend has continued with an upward bias since it crossed over the October  monthly 50% level 

three week's ago

A Break and extend pattern in the Weekly cycles (above 4345) should continue up into next week's highs @ 4463

Once that occurs I'd be looking for price to reverse back down into the this week's high, as part of retesting the breakout, and as low as 4298.

Once that occurs I'd then be looking for the trend to continue towards the 4th Quarterly 50% level @ 4519 & (Monthly highs)

Once that occurs,  I will then be looking for a potential larger reversal back down to retest the monthly 50% level in November, as shown @ 4190

SPI futures Australian Stock Market 22 October 2011 Weekly

SPI Monthly and Weekly cycles

US markets have showed more strength this week, whilst the Australian Market has struggled to rise higher than the 4th Quarterly level @ 4297, as resource stocks weigh down the market.

That may continue next week, if the SPI is trading below the Weekly level @ 4218...

as price will likely drift back down towards the Weekly 50% level and October 50% level (support)

Above 4218 and the trend bias is to follow the Weekly cycles...

As noted in last week's report...

keep an open mind that if the S&P 500 (US markets) continues up towards 1274... the Australian market could be around 4519 during November.

SPI Futures Australian Stock Market 15th October 2011 Weekly Report

Weekly close above the monthly 50% levels and this Week's highs @ 4141 can often see more gains in the following week as the trend continues into next week's highs, and 4th Quarterly level 4262-97

Therefore:- simply trade on the side of 4152...

SPI Monthly and Weekly cycles.

SPI has continued higher following the Weekly cycles, and likely to continue higher next week.

Next week’s highs are once again random resistance zones within the 5-day cycle.

As noted in last week’s report…..

And it's way too early to think that the Australian market will continue towards 4519+ during the 4th Quarter, simply because US markets aren't showing the same strength (Read US Index report)


After this week’s price action in US markets (read S&P Index report)….

Aussie traders should keep an open mind that the Trend could continue up towards 4519+ by November.

SPI Futures Australian Stock Market 8th October 2011 Weekly

Around 3800-3820, could form support and get to the market to swing back up towards the monthly 50% level in October (Weekly highs)

Previous Weekly Report

SPI Monthly and Weekly cycles

This week saw the market move into the support levels  @ 3805-20, completing the break and extend pattern from 2 week's ago.

The completion of this pattern will often see the market rotate back towards the higher timeframe monthly  50% levels and the weekly highs, as noted in last week's report.

 Next Week:- A weekly close above the monthly 50% levels and this Week's highs @ 4141 can often see more gains in the following week as the trend continues into next week's highs, and 4th Quarterly level 4262-97

Therefore:- simply trade on the side of 4152...

it's either going to continue upwards, or the next 5-days moves into a consolidating pattern towards the Weekly 50% level because of the price action in US markets.

And it's way too early to think that the Australian market will continue towards 4519+ during the 4th Quarter, simply because US markets aren't showing the same strength  (Read US Index report)