Australia Stock Market 19th April 2020 - SPI Futures

Primary & Weekly Cycles

The pattern in the Australian Stock market is the classic BEAR MARKET pattern - 

Moves up towards the previous breakout or 50% level in the following Monthly and then Sells down

ie. 5524  or as high as 5980.

However, only if the US markets follow, and they're being pumped full of money.

The big difference between the two are - the S&P 500 is heavily weighted by 4 companies that are still doing well during this Crisis, whilst the Australian Market, heavily dominated by Financials and Minerals are doing poorly.

I don't see any V shape recovery.

I see more weakness into 2021.

AUSTRALIAN STOCK MARKET SPI FUTURES 5TH APRIL 2020

SPI PRIMARY & WEEKLY CYCLES

LONG TERM - THE AUSTRALIAN MARKET IS GOING INTO NEW LOWS INTO 2021

SHORT-TERM, I STILL THINK IT WILL TRY AND MOVE UPWARDS TO APPROX 

50% OF THE RANGE (WEEKLY HIGHS)

NEXT WEEK TREND GUIDE IS 5274

RANDOM RESISTANCE 5524