Australia Stock Market SPI Futures 4th November 2018

SPI Primary & Weekly Cycles

As you know I've been bullish on the markets with the expectation that the trend continuing to move up into new highs until 2020-21.  

This is based on the 2016 lows and then the trend continuing higher using the Primary cycles for an initial two years (2018 highs) and up to 4/5 years (2020-21). There's also a ton of good economic news coming out of the US atm.

However, the break of the October lows and now trading below the 2018 50% level, suggests the trend will continue down into the November lows (Weekly cycles bearish)

We can also see the Quarterly cycles bearish (below Yellow), whereas earlier in the year they were support.

This now sets up the market being below the 2019 50% level and BEARISH PATTERNS that will go looking for 100% targets to the downside.

If you read the S&P 500 Report, the Primary Cycles are still bullish, but the same bearish patterns are aligning.

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Australian Stock Market - SPI Futures 13th October Report

Australia Stock Market

PRIMARY and WEEKLY CYCLES

As per the previous report, the short-term pattern suggested a move towards the 3-month lows.

The move spiked down as far as the 2018 50% level.

This Primary cycle 50% level defines the state of the BULL TREND, and I continue to be bullish into 2020-21

However, it still remains in a SHORT_TERM breakout pattern, which is going to struggle to move higher than 6041 for the rest of this month if there's Buying & 'short-covering' early next week.

Australian Stock Market SPI futures 1st October 2018 Monthly Report

SPI Primary & Weekly Cycles

Weekly cycles showing weakness with the break of the September 50% level and breakout of the Weekly lows.

Normally there would be an expectation the trend will continue lower towards the Weekly lows, as part of a "break and extend pattern" and looking for the 2/3 month lows.

However, the Primary cycle is still looking for more gains and the target of 6437

Therefore, long term suggests more gains, Short term suggests weakness.

Trade either side of 6147

A retest of the 2/3 month lows, or as far as 5984 is an ideal level to get back into the Primary BULL trend

Australian Stock Market - SPI Futures 3rd September 2018

SPI Futures PRIMARY & WEEKLY CYCLES

Price looking to reach the 2018 highs @ 6437

Current Support @ 6220  (September 50%)

Once it reaches those highs, my expectation is that there will be a lot of resistance around that level.

However, I still think the trend is still going higher until 2020-2021.

Therefore it may stall, but any weakness is short-term (2-3 months) into trailing support levels.

Keep an eye on the S&P 500 (read report)

The Australian Stock Market - SPI Futures - 5th August 2018

SPI Primary & Weekly Cycles

TArget in 2018 - 6437

If it's going hit those highs, it will need to form support above the 2018 highs @ 6155

However, past  Primary cycles has seen resistance around the .618 of the range @ 6223

Support

Weekly Lows and July 50% level (don't trade longs below) @ 6008 (previous Report)

The Market continues higher and now forming support above 6155.

I'm still bullish for a move to 6437 but there's a bit of resistance around these  upper levels

Weekly lows have now moved higher into the August 50% level.

Even though I'm still bullish, don't trade long below @6145

AUSTRALIAN STOCK MARKET 1st July 2018 Monthly Report

SPI Primary & Weekly Cycles

Still Bullish on the markets until 2020-21, even though there is so much negative news around, i/e Trump's tariffs etc

TArget in 2018 - 6437

If it's going hit those highs, it will need to form support above the 2018 highs @ 6155

However, past  Primary cycles has seen resistance around the .618 of the range @ 6223

Support

Weekly Lows and July 50% level (don't trade longs below) @ 6008

Australian Stock Market - SPI futures 3rd June 2018 Monthly report

SPI Primary & Weekly Cycles

I still favour a rise up into 2020/21, so bullish for another 2 years.

Any weakness in MAY and treat the 2018 Yearly 50% level as support, with the expectation that Markets will continue to rise. (previous Report)

There was weakness in MAY but not as far as some other years when we do see markets move lower.

Looking at the current patterns, the Yearly 50% level is the Major support level

However, I would use the Weekly lows and June 50% level as the first Support zone at the start of this month

support :- 5944

major support 5899 - 5877