AUSTRALIAN STOCK MARKET - SPI FUTRES 1ST NOVEMBER 2020

 

SPI PRIMARY & WEEKLY CYCLES

AUSSIE MARKET REMAINS IN A BEAR TREND, AND IT DOESN'T TAKE TOO MUCH FOR THE NOVEMBER LOWS TO BREAK AND SEE THE MARKET DROP MUCH LOWER INTO 2021

THE US ELECTION WILL HAVE A MASSIVE BEARING ON THE STOCK MARKET TRENDS.

A TRUMP WIN WILL BE POSITIVE, A BIDEN WIN I'M SURE WILL BE NEGATIVE, - RAISING TAXES AND SHUTTING THE ECONOMY.

SURE THE MARKET CAN RISE, BUT I WOULD RATHER VERIFY THAT USING THE 2021 50% LEVEL AS THE TREND GUIDE IN JANUARY

Australian Stock Market Report 3rd October 2020

 

Primary & Weekly Cycles

If we subscribe to the Primary Cycles Bear Market Patterns, then we are looking for October lows to fail and then for the trend continue down towards new lows in 2021.

With Trump going into Hospital with Covid-19 after Future Markets closed, it will be interesting on next week's open, and enough to spook the markets.

The 3rd Quarter has always been the Secondary Cycle that sees the next wave downwards.

Whilst the US markets and the Australian Market don't align, they will if US markets continue lower (read US Report)

We can see in the Forward Primary Cycle in 2021, if price doesn't sell off, but continues to remain supported in 2020 above the Yearly lows (5703), then next year's 50% level will define whether the Aussie market goes higher or not.

If looking to be a BUYER in the Aussie Market, I would sit it out until next year