Australian Stock Market - SPI FUTURES 29th June 2020

Australian Stock Market - Primary & Weekly Cycles

Whilst above the Yearly lows at 5683 the bias is to continue higher towards the 2020 50% level at 6375

Weekly cycles continue to be bullish, but I still would like to see the June 50% level tested to validate whether it will continue towards the 2020 50% level

Still trading above the 2020 lows, but I'm surprised it hasn't move as high as the 2020 50% level @ 6375

Around the July 50% level, it will also match the monthly lows, providing a robust support zone for that move upwards 6375 to 6420

However, read the S&P 500 report, because what looks like a good set-up for a move higher can lead to a break of support and down into the July lows and then the August lows.

Therefore below the Weekly lows at 5613 is open to Risk in July.

Australian Stock Market SPI Futures 13th June 2020 Report

Australian Stock Market (Primary & Weekly Cycle)

I would like to see the Weekly highs stall the trend from going higher and retest the JUNE 50% level.  (SET-UP B and into  SET-UP C)

Once that happens we can validate whether the Australian Market will go higher and how high. (previous Report)

Whilst above the Yearly lows at 5683 the bias is to continue higher towards the 2020 50% level at 6375

Weekly cycles continue to be bullish, but I still would like to see the June 50% level tested to validate whether it will continue towards the 2020 50% level.

There's so much negative news in the economy, I'm even scratching my head of how the market can go higher?

But it can!

Things will change, once it's below the Monthly 50% levels and with a distinct possibility any selling would move back to the Monthly Blue Channel lows.