Australian Stock Market SPI futures 1st October 2018 Monthly Report

SPI Primary & Weekly Cycles

Weekly cycles showing weakness with the break of the September 50% level and breakout of the Weekly lows.

Normally there would be an expectation the trend will continue lower towards the Weekly lows, as part of a "break and extend pattern" and looking for the 2/3 month lows.

However, the Primary cycle is still looking for more gains and the target of 6437

Therefore, long term suggests more gains, Short term suggests weakness.

Trade either side of 6147

A retest of the 2/3 month lows, or as far as 5984 is an ideal level to get back into the Primary BULL trend

Australian Stock Market - SPI Futures 3rd September 2018

SPI Futures PRIMARY & WEEKLY CYCLES

Price looking to reach the 2018 highs @ 6437

Current Support @ 6220  (September 50%)

Once it reaches those highs, my expectation is that there will be a lot of resistance around that level.

However, I still think the trend is still going higher until 2020-2021.

Therefore it may stall, but any weakness is short-term (2-3 months) into trailing support levels.

Keep an eye on the S&P 500 (read report)