SPI Futures Australian Stock Market 23rd June 2012

My view is that the Monthly 50% level and and 2nd Quarterly 50% level will continue
to act as resistance ...

Primary & monthly cycles suggest further weakness (previous Weekly Report)

SPI Monthly and Weekly cycles

both levels acted as resistance, as the June 50% level slapped the trend downward once again...

And the trend is likely to continue down into the June lows

and extend down into the July lows

as part of testing the 2012 Yearly lows @ 3784 (Support)

SPI Futures Australian Stock Market 16th June 2012

I still have the view that the June 50% level...

 and 2nd Quarterly 50% level will act as resistance until July (3rd Quarter)

Previous Weekly Report

SPI Monthly and Weekly cycles

2nd Quarterly 50% level and June 50% level continues to act as resistance, and may continue to do so for a few more weeks.

Next Week:-

Weekly 50% level @ 4074 will determine whether there is upward bias (or not)

A lot of that will also depend on the market's reaction to the Greek elections over this weekend.

Primary and monthly cycles suggest further weakness

SPI Futures Australian Stock Market 9th June 2012 Weekly Report

Trend bias is down into the June lows...(Support) ..

and I would then look for a counter-trend move up towards the June 50% level over the coming weeks..(Resistance)

SPI Monthly and Weekly cycles

The Aussie market didn't precisely hit the Support levels in June, as the market rose on the back of

US markets hitting their own June lows and rising upwards.

Weekly 50% level is the trend guide next week for gains up into the June 50% level.

I still have the view that the June 50% level and 2nd Quarterly 50% level will act as resistance until July (3rd Quarter)

Australian Stock Market SPI futures 2nd June 2012

The Trend bias is also part of the break and extend pattern from the MAY lows into the June lows.

SPI Monthly and Weekly cycles

Trend bias is down into the June lows...(Support)

and I would then look for a counter-trend move up towards the June 50% level over the coming weeks..(Resistance)

Note:- overall trend bias is to continue down towards 3784 is 2012