The Australian Stock Market - SPI Futures June 2017 Monthly report

Primary & Weekly Cycles

We are coming into the month of May that often sees selling hit the market.

Trailing support the monthly lows in May and the double bottom lows in June. (Previous Weekly Report)

The Australian stock market has come under some selling pressure, which is often the case during these months,

I still subscribe to the market going higher, but the ideal pullback zone resides around 6000-5591.

We can see the market closing around the June 50% level and often I would expect this level to form resistance along with 5834 (Yearly highs)

If I'm wrong then it could push as high as the Weekly highs, but there is still the expectation it's going lower before it goes higher.

Australia Stock Market Spi Futures 1st May 2017 Monthly Report

SPI Futures Primary and Weekly Cycles

The Australian Market like the US markets are trading in narrow band around their respective 2017 Yearly highs.

The long term target remains the 100% range at 6351 in 2017.

However we are coming into the month of May that often sees selling hit the market.

Therefore resistance 6026/48

Trailing support the monthly lows in May and the double bottom lows in June.

In conclusion:- there's more upside and we're hoping that selling hits the markets so we can buy the dips 

Australian Stock Market - spi Futures 1st April 2017

SPI Futures Australian Market.

As noted in the previous report, The Australian market's target is the 2017 highs (5834) helped higher by the strength in the S&P 500 and DOW.

Therefore if US markets are going higher, our target based on past Primary Cycles is....

6351  (previous Report)

The Australian Market has completed its main path from the 2016 lows and into the 2017 highs @ 5834.  If we subscribe to the Principle of two period wave patterns then the Market should continue higher in 2017 and into 2018, with a target this year @ 6351.

However, around these highs is often a major resistance zone but for me it's not a Shorting zone. I still think there's more upside and buying the dips is the way to go.

Note:- short-term likely to follow the dynamics of the April range upwards.

Australian Stock Market SPI Futures 3rd March 2017 Monthly Report

SPI Futures Australian Market.

As noted in the previous report, The Australian market's target is the 2017 highs (5834) helped higher by the strength in the S&P 500 and DOW.

Whilst US markets are making new highs the Australian Market is dragging its feet, but at this stage I don't want to be buying the top of this market without seeing some pullback in the Quarterly cycle.

Therefore if US markets are going higher, our target based on past Primary Cycles is....

6351

Australian Stock Market SPI futures 5th February 2017

SPI Primary & Weekly Cycles

continues to move upwards into the January highs, which would be a good time to off load some positions.  (previous Report)

We've seen an early push upwards towards the January highs and then some selling in the later part of the month.

If we look at the above chart we would like to see further weakness in the market with Random support around the February 50% level, which may or may not hold.

However, when we swtich to the S&P 500, we can see in the US markets there's more upside towards the 2017 highs.

I'd keep an eye on S&P 500 Support (READ US Report) and see if there's another move upwards in February-March

AUSTRALIAN STOCK MARKET -SPI FUTURES 2nd January 2017

SPI Primary & Weekly Cycles

further weakness from the 4th Quarter down into the 1st Quarter lows some time in March2016If that plays out, then I'd look to move back into Long positions in the Aussie Market 6 using the 2016 lows and SUPPORT & ENTRY  (SEPTEMBER 2015)

TEXT BOOK sell-off in the Aussie market at the start of January, and we now have both the Australian Markets and US markets in synch. These SELLOFFS at the start of 2016 have all the hallmarks of forming a Double Bottoms around the 2016 Yearly lows. (January 9 2016)

We have seen the Australia Market play out TEXT book patterns within the PRIMARY CYCLE, and with the expectation that the TREND will continue to move towards the 2017 highs in the early part of the year.

There's 2 patterns at play...

1. continues to move upwards into the January highs, which would be a good time to off load some positions.

2. First 10 days of the year sell down into the January 50% level and then continues upwards for the next 3-6 months (MAY).

Note:- Even though it might reach the 2017 highs in the early part of January I think there's more upside in the market. It would be wise to wait for Quarterly 'sell-downs' to get back into the UPTREND.

Australian Stock Market SPI futures 5th December 2016

Primary & Weekly Cycles

 I continue to be bullish no matter who wins the Election on Tuesday, which is part of the 2016 lows and expectation the trend is heading towards the 2017 highs.

Therefore the November lows and the 4th Quarter level is seen as a major trend guide and support level for 2016 @ 5171 & the November lows @ 5128 (Previous Report)

There's not much more to say since the last time and every other time, the trend is heading up into the 2017 highs.