SPI Futures 28th July 2012 Weekly Report

SPI Monthly and Weekly cycles

last week saw the market come down into the Weekly lows @ 4033, find support and then continue higher on the back of the same price action in US markets.

There is now a Weekly close above the 3rd Quarterly 50% level, therefore there is an expectation that the trend will continue to move upwards for the next 5-days...

and then push higher into the August highs the week after next.

SPI Futures 21st July 2012 Weekly Report

SPI Monthly and Weekly cycles

The Australian Market continues to battle against the Quarterly 50% levels,

as Resource stocks hold the overall market down.

Next Week's level @ 4132 will define whether the market will continue higher or not

SPI Futures Australian Stock Market 14th July 2012

SPI Monthly and Weekly cycles

The Australian Stock market continues to trade sideways within the Weekly and Monthly cycles.

Short-term trend guide for next week is based on the Weekly 50% level @ 4073

And until there is a breakout above the 3rd Quarterly 50% level...:- (2-month wave pattern & higher highs)

There is always to possibility for weakness towards 3784

SPI Futres Australian Stock Market 7th July 2012

SPI Monthly and Weekly cycles

3rd quarterly 50% level forms resistance, and whilst below that level there is always the chance that the market makes its way down towards the July lows, & then 3784.

However, it would need to be trading below the Weekly 50% level @ 4078 to help verify that move.

Otherwise, keep an eye on the Weekly 50% level, & if it bounces off this level and next week closes above the 3rd Quarterly 50% level..

Then the UP trend will last for 2-months:- August/September. (#B)

SPI FUTURES Australian Stock Market 30th June 2012

SPI Monthly and Weekly cycles.

The MAY break-n-extend pattern completed at the June lows, and the trend is now rising back towards the July 50% level and 3rd Quarterly 50% level.

Those levels are seen as resistance, with the expectation that the Trend is continuing lower:- June lows and 3785

However, A weekly close above those same levels (resistance) will likely see price continue to trend upwards until the Start of September:- 2-month wave pattern.