Australian Stock Market (Primary & Weekly Cycle)
I would like to see the Weekly highs stall the trend from going higher and retest the JUNE 50% level. (SET-UP B and into SET-UP C)
Once that happens we can validate whether the Australian Market will go higher and how high. (previous Report)
Whilst above the Yearly lows at 5683 the bias is to continue higher towards the 2020 50% level at 6375
Weekly cycles continue to be bullish, but I still would like to see the June 50% level tested to validate whether it will continue towards the 2020 50% level.
There's so much negative news in the economy, I'm even scratching my head of how the market can go higher?
But it can!
Things will change, once it's below the Monthly 50% levels and with a distinct possibility any selling would move back to the Monthly Blue Channel lows.
