SPI Futures Australian Stock Market 15th October 2011 Weekly Report

Weekly close above the monthly 50% levels and this Week's highs @ 4141 can often see more gains in the following week as the trend continues into next week's highs, and 4th Quarterly level 4262-97

Therefore:- simply trade on the side of 4152...

SPI Monthly and Weekly cycles.

SPI has continued higher following the Weekly cycles, and likely to continue higher next week.

Next week’s highs are once again random resistance zones within the 5-day cycle.

As noted in last week’s report…..

And it's way too early to think that the Australian market will continue towards 4519+ during the 4th Quarter, simply because US markets aren't showing the same strength (Read US Index report)


After this week’s price action in US markets (read S&P Index report)….

Aussie traders should keep an open mind that the Trend could continue up towards 4519+ by November.

SPI Futures Australian Stock Market 8th October 2011 Weekly

Around 3800-3820, could form support and get to the market to swing back up towards the monthly 50% level in October (Weekly highs)

Previous Weekly Report

SPI Monthly and Weekly cycles

This week saw the market move into the support levels  @ 3805-20, completing the break and extend pattern from 2 week's ago.

The completion of this pattern will often see the market rotate back towards the higher timeframe monthly  50% levels and the weekly highs, as noted in last week's report.

 Next Week:- A weekly close above the monthly 50% levels and this Week's highs @ 4141 can often see more gains in the following week as the trend continues into next week's highs, and 4th Quarterly level 4262-97

Therefore:- simply trade on the side of 4152...

it's either going to continue upwards, or the next 5-days moves into a consolidating pattern towards the Weekly 50% level because of the price action in US markets.

And it's way too early to think that the Australian market will continue towards 4519+ during the 4th Quarter, simply because US markets aren't showing the same strength  (Read US Index report)

SPI futures Australian stock Market 1st October 2011 Weekly

SPI Monthly and Weekly cycles

Next week's short-term trend guide is to continue down into the weekly lows.

Around 3800-3820, could form support and get to the market to swing back up towards the monthly 50% level in October (Weekly highs)

However, my view is that price will continue down into the October lows & 100% of the Yearly range @ 3690, and form a robust support zone for 2011

The Australian stock report SPI Futures 24th Sept 2011 Weekly

SPI monthly and Weekly cycles

SPI moving down into the September lows, as part of this week's breakout @ 4002 and extension down into this week's lows.

This was set-up on the back of the S&P 500 breaking out of the 5-day lows, 1 day later than expected.

Next week:- around 3800 could form a robust support zone, and the market swings back towards 4002 and then the start of October.

if that occurs then we look for a potential move back down towards 3634 in October.

However, if next week continues down into 3690/3717, then there is a potential DOUBLE BOTTOM in the market (3rd Quarter) that could result in a major support zone for the rest of 2011.

SPI Daily Australian stock market 17th September 2011 Weekly

Expectation is that the trend is moving down into the September lows...

Next Week:- Weekly level @ 4082 could see the SPI rise back into the Weekly 50% level @ 4182

SPI Monthly and Weekly

My view was that the trend would continue down towards the September lows...

however, as mentioned in last week's report, the weekly lows could form a support zone and swing the market back upwards.

Next Week:- a lot will depend on the S&P 500, and whether it starts next week with a 2-day reversal pattern back down. (read US Index report)

Therefore the trend in the Australian will be defined by the Weekly 50% level @ 4160.

The monthly cycles don't favour more gains in the current month, but if it's above 4160 then the bias is up.

SPI Futures Australian Stock Market 10th September 2011 Weekly

SPI Monthly and Weekly cycles

Expectation is that the trend is moving down into the September lows...

Next Week:- Weekly level @ 4082 could see the SPI rise back into the Weekly 50% level @ 4182

However,  the first sign of weakness will be price trading below 4082....

and then confirmed with a breakout of the Weekly lows @ 4022

Note:- Weekly lows can often form a support zone during the current Month....

 but my view is that the lows won't hold, as part of a September 50% level rejection pattern towards the monthly lows

The Australian Stock Market (SPI futures) 3rd Sept 2011 Weekly

SPI Monthly and Weekly cycles

There are two patterns at play during September using the Monthly 50% level as the trend guide....

#B) forms support around 4135/37, and rises up towards 4405 and then 4600 by the start of October

or

#c) August lows forms resistance, and the next leg down begins with the September 50% level rejection pattern.

My view is (#C) simply because all the patterns over the past 2 -months have played out accordingly...

and Thursday's fake breakout and reversal pattern was the first sign of that happening.

The 2nd sign of that happening will be the market trading below 4135/4137

September lows are seen as the target and robust support levels for the rest of 2011.