SPI Futures Australian Stock Market 24th November

SPI Monthly and Weekly cycles

The SPI has continued to rise up from the 4th Quarterly Support zone...

it did stall around the Weekly levels @ 4407, but

Thursday's close above help set-up further gains.

Next Week:- Weekly 50% level @ 4438 is Support

as the trend continues upwards

SPI Futures Australian Stock Market 17th November 2012

SPI Monthly cycles

As noted 2 weeks ago (Weekly Report), if the November 50% levels can't hold because of the

price action in US markets, then the Aussie Market is heading down into 4341.

When we look back over the past number of Quarters, we can see that the SUPPORT in

each 3-month cycle coincides with this same level (RED)...

The only time it didn't was back in MAY this year, 6 months ago, but it did support it for 5-days, &

then followed a break-n-extend pattern into the following Quarterly lows.

Therefore 4341 is seen as SUPPORT during this Quarterly cycle, otherwise it will follow a similar

break-n-extend pattern into the 1st Quarter of 2013

SPI Monthly & Weekly cycles

If it does rise upwards next week then it's likely to stall around the October 50% level @ 4416/19, for the next 5-days.

The critical pattern in the Weekly cycles is whether it follows the breakout of the Weekly lows @ 4413 down into next week lows @ 4301

The SPI Futures Australian Stock Market 10th November 2012

SPI Monthly & Weekly cycles

Primary cycles still continue to suggest the Australian Stock market is heading up into 4800+

This will be helped or hindered by the S&P 500 reaching Support this week & and the 4th Quarterly 50% level

(Read US Index report)

SPI Futures Australia Stock Market 3rd November 2012

SPI Monthly & Weekly cycles

The SPI has decided to rotate towards the November 50% level @ 4416/19

This level is seen as the trend guide for a move towards higher highs in 2012 @ 4800+

However, it wouldn't surprise me to see a short-term Spike downward into 4341 (Support), before it settles back above the November 50% level and then continues higher into the end of the year.