AUSTRALIAN Stock Market SPI Futures 28 January 2015

SPI Primary Cycles 2015

If you've been following my reports for a while now, you'd know that I've been bearish on the Australian Market since reaching the 2014 highs. 

Normally with the alignment of the 2015 50% level, this would put pressure on the Primary cycles to move lower, as was the case with the first few weeks in January.

However, if you've read my US reports (S&P 500), you know I've been bullish, and the price action in the US has helped the Australian Market remain stable, and based on this week's price again once again move into a BULL trend. (Above 2015 50%)

However, the important pattern in the Australian market is the price action of the Precious Metals (GOLD & Silver). I was Bullish on Silver but not so much on Gold.

Both those markets now have the potential to rise upwards after being depressed for the past 2 years, which gives reason to underpin the Australian Market. (READ GOLD Report).

If GOLD & Silver is going to Rise, then keep an eye on the AUD/USD (Read Forex Report)

Australian Stock Market SPI futures 1st January 2015

SPI Primary & Weekly cycles

The 2014 50% level has supported the Australian Stock Market, and as mentioned in the previous report, the US markets continue to look bullish, which was enough to drag the Aussie market upwards and close out the 2014 Primary cycle right at a critical level.

As mentioned in previous reports, the 2015 50% level @ 5377 is going to define the trend for the next 2 years, especially if it's trading below it. 

If you look at precious metals (read Gold Report) my view is that there is weakness in those commodities which is enough to push our market down into the 2015 lows, however US markets continue to look bullish. 

As we can see the SPI is going to open above on the January 50% level @ 5355 which is going to define the short-term trend.

Read S&P report

http://www.usindexweekly.blogspot.com.au/