Australian Stock Market SPI futures 26th November 2011 Weekly Report

Next week's levels @ 4164-72, will provide enough information whether the market continues to trade between the Weekly levels (consolidation) or whether the downtrend continues.

as it won't take much for the market to be trading below the November 50% levels, putting more pressure on the market. 

Previous Weekly Report

SPI Monthly and Weekly cycles

Monday failed to remain above support levels (November 50% level @ 4164), as the S&P 500 opened below it's own support levels on Monday. (read US Index report)

The breakout of the Weekly lows @ 4102 will normally extend towards next week's lows @ 3919

 Note:- My view is that price will retest last week's breakout @ 4102..

That means it could move down into next week's lows @ 3919  and then swing upwards, which will align with the December 50% levels, and further resistance.

 But, if  early next week rises upward (3-day rise), then those Weekly lows @ 4102 and the Weekly level @ 4125 are seen as resistance. 

Based on current price action my expectation is that it will then extend down towards the December lows.

Australian Stock Market (SPI Futures) 19th November 2011

either the trend continues to move upwards, whilst above 4359

or we have more of the same over the next 5-days, as the market consolidates within the weekly levels ... (Previous Weekly report)

SPI monthly and Weekly cycles

The Market continues to consolidate during the 4th Quarter, and my view is that it will continue to do so.

Of course the market can continue lower, as it's trading below the higher timeframe 50% levels (Yearly and Quarterly)....

and it won't take much for the market to be trading below the November 50% levels also, putting more pressure on the market.

Next Week:-  my view is that next week's level @ 4164-72, will provide enough information whether I'm right and the market continues to trade between the Weekly levels (consolidation)

or not, and the downtrend continues.

SPI Futures Australian Stock Market 12th November 2011

The trend guide is based on the Weekly 50% level, with an UPward bias

I still have the view that the Market is trying to rise up towards the November highs, and the 4th Quarter 50% level...@ 4519  ....(Previous Weekly Report)

SPI Monthly and Weekly cycles

This week saw the Weekly 50% level support the trend, as it continues to move upwards during November.

I still have the view that the trend is moving higher during November (resistance), and then likely to consolidate for the rest of this Quarter....

That is, unless it closes below the Weekly lows

Next Week:-

use the levels in the Weekly cycles, along with short-term set-ups within the 5-day range...

either the trend continues to move upwards, whilst above 4359

or we have more of the same over the next 5-days, as the market consolidates within the weekly levels.

Australian Stock Market SPI Futures 5th November 2011

I'll be looking for the trend to continue towards the 4th Quarterly 50% level @ 4519 & (Monthly highs)

Once that occurs, I will then be looking for a potential larger reversal back down to retest the monthly 50% level in November, as shown @ 4190  (Previous Weekly Report)

SPI Monthly and Weekly cycles

The market did the opposite of what I was expecting, as it moved down into the November 50% level early in the month on the back of weakness in the S&P 500 (Read US Index Report)

Next Week:- trend guide is based on the Weekly 50% level, with an UPward bias

I still have the view that the Market is trying to rise up towards he November highs, and the 4th Quarter 50% level...@ 4519

Unless next week is trading below the Weekly lows, as this could put weakness into the market towards 3856.