SPI futures Australian Stock Market 1st September 2012

SPI Monthly and Weekly cycles

As noted in last week's report, there is a ton of resistance around these highs & 4389

Because there's a break out from 4290 the trend can continue to move up towards the September highs @ 4406 to 4451

However, after reading the US Index report, there is also the potential for the Aussie market to come down and test Support levels within the cycles @ 4228

SPI Futures 25th August 2012 Weekly Report

SPI monthly and Weekly cycles

There is a ton of resistance around 4389 (3 year 50% level), which has acted as resistance twice this year, and is currently acting as resistance now.

There are two patterns at play.....

#1) continues with the breakout pattern from 4290 and extends up towards new highs in September.

#2) Read the US Index report.

Support resides around the 3rd Quarterly 50% level @ 4168

SPI Futures 18th August 2012 Daily Report

SPI monthly and Weekly cycles

Trend bias is up into the August highs @ 4372-4389..

Note- 4389 is seen as a major 'random' resistance zone during the month of August

SPI Futures 11th August 2012 Weekly Report

SPI monthly and Weekly cycles

As noted in last week's report, the trend bias is Up but around 4288/90 there was a random resistance zone, which is what happened

Next Week:-  the overall  trend is to continue up towards the August highs..

and next week's weekly level @ 4236 will determine whether that's going to happen or not.

Trailing 'support' resides around the Monthly and Quarterly 50% levels

SPI Futures 4th August 2012 Weekly Report

SPI Monthly and Weekly cycles

As per last week's report, the market has continued upwards and is likely to continue upwards early next week.

Target remains August highs...

However, 4290 is a random resistance zone..

Whilst 4192 (3rd Quarterly 50% level) is likely to continue to support the market