SPI Futures Australian Stock market 7th April 2012

Trend bias is to continue up towards the April highs....

However, my view is that the Australian Market will revisit the 2nd Quarterly 50% level over the next 3-months.

The move down will be helped by weakness in US markets..... (Previous Weekly Report)

SPI Monthly and Weekly cycles

The SPI didn't reach the precise April highs, as the downward trend gathered pace as US markets started to reverse down towards their own Monthly 50% levels.

The overall reversal target is the 2nd Quarterly 50% level 4196.

However, the April 50% level @ 4256 could form a random support zone for a number of Weeks ( further consolidation)

Next Week:-  The Weekly 50% level @ 4300 will define whether there is a short-term upward move 

and 4300 will also define whether the trend moves down into 4256, and as low as the Weekly lows 4239

SPI Futures Australian Stock Market 31st March 2012

SPI Monthly & Weekly cycles

Trend bias is to continue up towards the April highs....

However, my view is that the Australian Market will revisit the 2nd Quarterly 50% level over the next 3-months....

the 2nd Quarterly 50% level is seen as a robust Support zone during 2012

The move down will be helped by weakness in US markets.....

SPI Futures Australian Stock March 24th March 2012

Any further gains over the next 2-weeks will be towards the MARCH highs @ 4385

Note:- if the market is trading below 4300  the likely scenario is a close of gap...

Weekly 50% level Support @ 4244 (Previous weekly Report)

 

SPI Monthly and Weekly cycles

As the S&P 500 came down to retest Support @ 1482, (read US Index Report) the SPI followed moving down to it's own support levels @ 4244.

And if the S&P 500 follows the April high pattern, then it's going to drag the SPI upwards:- 4385

However, the 1st Quarterly 50% level continues to form resistance around @ 4292....

and even though the SPI could move towards the Weekly highs & 4385, don't discount the SPI revisiting the 2nd Quarterly 50% level during the next Quarter.

as this level @ 4130 would provide a more robust Support  'Thrust ' pattern upwards over the next 3-6 months.

In conclusion:- the SPI will be dictated in the short-term by how the S&P 500 responds to it's Weekly level @ 1395 (READ US Index report)

SPI Futures Australian Stock Market 17th March 2012 Weekly report

My view is that the trend will continue to move upwards over the coming weeks, and that will be decided by next week's 50% level @ 4229.

A continuation upwards will be helped by potential UPward patterns in US markets (Read S&P 500 Weekly report)  Previous Weekly report

SPI Monthly & Weekly cycles

The SPI is likely to follow the Weekly cycles and move towards next Week's highs, helped by the Weekly close above the Quarterly 50% level @ 4292.

Any further gains over the next 2-weeks will be towards the MARCH highs @ 4385

Note:- if the market is trading below 4300 (4292) the likely scenario is a close of gap (Tuesday's highs)

Weekly 50% level Support

SPI Futures Australian Stock Market 10th March 2012

SPI Monthly and Weekly cycles

The market has acted as expected and remain below the 1st Quarterly 50% level @ 4292, and test Support @ 4140.

My view is that the trend will continue to move upwards over the coming weeks, and that will be decided by next week's 50% level  @ 4229.

However, it would not surprise me to see the market remain flat until the start of the 2nd Quarter (April), and the Aussie market gets a better Thrust pattern upwards using the 2nd Quarterly 50% level (yellow)

Note:- a continuation upwards will be helped by potential patterns in US markets (Read S&P 500 Weekly report)

SPI futures 3rd March 2012 Weekly Report

I still form the opinion that the Australian Market will continue to BUTT its head around these levels, and if it's going to continue upwards...

Then the 2nd quarterly 50% level @ 4127 form provide the perfect Support zone (Previous Weekly Report)

SPI Monthly and Wekly cycles

The Monthly &  Weekly 50% levels can form a 'random support zones' next week and push the market upwards...

However, I still have the view that the market is drifting downward into the 2nd Quarterly 50% level (April)

SPI futures Australian Stock Market 25th February 2012

SPI Monthly and Weekly cycles

My view was that the SPI would drift lower, whilst US markets continue to push higher.

Instead the Australian Stock market has moved back towards the 1st quarterly 50% level @ 4292 once again and stalled

Next Week:- the trend may continue to push upwards, and follow the Weekly cycles, and may even move towards the monthly highs in March

however, I still form the opinion that the Australian Market will continue to BUTT its head around these levels, and if it's going to continue upwards...

Then the 2nd quarterly 50% level @ 4127 form provide the perfect Support zone