Australian Stock Market Report - Spi Futures 1st May 2021

 

SPI Primary & Weekly Cycles

Target remains the 2021 highs  at 7407+, whether it's going to reach that level in MAY is another story.

There's a breakout of the April highs, so I'd expect a push up in early MAY towards 7227

After that will depend on price action in the US markets 

(read S&P 500 Report)

AUSTRALIAN STOCK MAKRET - SPI FUTURES 4 TH APRIL 2021

 

AUSTRALIAN STOCK MARKET

I STILL HAVE THE VIEW THAT THE AUSSIE MARKET IS MOVING UP TOWARDS THE 2021 HIGHS.

HOWEVER, IN THE SHORT-TERM AND THE START OF THE NEW QUARTER, IT WILL DEPEND ON WHAT HAPPENS WITH THE S&P 500 AROUND THE 2021 HIGHS (READ S&P 500 REPORT)

IF THERE IS SELLING, THEN PRICE IS LIKELY TESTING THE APRIL LOWS, WHICH IS SEEN AS SUPPORT IN THIS UP TREND.