Aussie Index (SPI) 26th Sept Weekly

SPI Monthly and Weekly

With the SPI range trading within the September levels and remaining above 4656, and with only a few days to go until October begins, I have to favour a continuation of the Trend upwards in the early part of October.

Breakout pattern in the Quarterly timeframe (3-month cycle) in July is continuing into higher highs into the next Quarter:- break and extend pattern.

At this stage with the market above the Yearly 50% levels and 3-Year 50% levels, and now consolidating above the 3rd Quarter highs, the trend keeps on keeping on.

At this stage I'm not going to forecast a 4th Quarter 'top', but simply treat each month on it's own merit until and lesser timeframe gives me clues on any short-term reversal patterns that could lead to longer-term reversal patterns towards trailing 50% levels in the monthly timeframes.

Aussie Index (SPI) 19th Sept Weekly

SPI Weekly

Last Week's view was a 2-day pullback and a UP move from Wednesday into the September highs.

There was a continuation into higher highs on Thursday based on US markets moving higher on Wednesday and the SPI has closed above 4656....

At this stage I would expect a slightly higher move in October to fullfil the breakout and extend pattern from the 3rd Quarter (July) and continuation higher into October.

Once we move into the 4th Quarter starting in October, the trend will depend greatly on the price action in the US, (Read the US report)

And like all good breakouts I would like price to revisit the break sometime in the future, which can often occur in the next 3 month period, especially if the S&P struggles to move higher than 1073.

That retest of the breakout is around 4159.

Aussie Index (SPI) 11th Sept Weekly

SPI Monthly

SPI continuing higher with the 3rd Quarter UP move in September.

Not the price action I wanted to see happen even though my expectation was that price would move higher.

As mentioned a number of times previously. my preferred option would have been SET-UP A:- a move down into support from 4455 and then another Wave higher.

This would have provided another long set-up and more 'bang for the buck and th the 3rd quarter rise

Instead SET-UP B has continued higher with the August high close above the Yearly 50% level and higher move towards September highs.

At this stage once the September highs are reached I'll will continue to look for a rotation back down into support. (50%) SET-UP C



SPI Weekly and Primary range spiral filter

SET-UP B was set-up with last Week's support and this week's lower open and rise up from support, and also helped by the exact same price action in the US markets.

after Friday's highs, I'm looking for a 2-day pullback into trailing support.

The first sign of SET-UP C occurring will be price closing below the 50% levels

Aussie Index (SPI) 5th Sept Weekly

SPI Futures

SPI trading around the Yearly 50% level @ 4455...

I do have a view of higher prices into the 4th Quarter...

However, my preferred pattern continues to remain price drifting sideways until the 4th Quarter and rising up from the 50% levels

SPI Weekly and 5-day pattern

SPI trading above Weekly support and can continue higher next week....

However, for the next couple of weeks i'm leaning to a sideways pattern until the 4th Quarter begins.

For SPI traders it's simply trading on the right side of the levels in the 5-day range, and looking for those 21-42 point intra-day range patterns.