SPI Futures Australia Stock Market 29th June 2013

SPI Primary & Weekly cycles

As mentioned in the last report some weeks ago, the trend was heading down into 4600 and the BUY zone.

We can see 4600 attracted Buyers, and now the trend will be defined by the 3rd Quarterly 50% level  4796.

Either the trend makes its way down towards the Yearly 50% level....

or it's going to push up towards the 2013 yearly highs. If it pushes upwards, there is major resistance around 4945 during July.

Note:- there are breakout patterns (DOWN) in the monthly cycles, therefore if it moves up into 4945, my view is that it will move back down to align with the 'future' monthly LOW BUY zone, as illustrated in my book

SPI Futures Australian Stock Market 8th June 2013 Weekly Report

Primary & Monthly cycles

Primary cycles are weak with last week's close below 4899,  & now the BUY zone is around 4600...

However, US markets remain above Support (read S&P US Weekly Report)..

which could result in a swing upwards, or not, & a continuation down into 4600.

if it swings up, then around 5069 is your resistance-Sell zone.

And the next trend will be defined from the 3rd Quarter & 4818.