Australian Stock Market 7th August 2017

SPI Primary & Weekly Cycles

The June highs has formed resistance and my expectation that the Australian stock market is moving into a 2-monthly wave pattern down into 5591 and July lows.  I would think this level is the ideal time to be getting back into the market with the expectation it is going higher. look for 5-day high breakout to confirm  (Previous Report)

The Australian Market is setting itself for more gains into the end of the year. It didn't reach the July lows but it did find support around 5591.

There's are a few patterns that might play out..

1. Breakout of the weekly highs and continues to trend upwards into the 4th Quarter (October), helped by the double bottom on the weekly lows

2. does dip down into the August lows but then kicks upwards later in the month.

3. continues sideways into October and then rallies from the start of October.

Either way, the Australian Market is going higher.

Australia Stock Market - SPI Futures 2nd July 2017

SPI Priamry & Weekly Cycles

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. (Previous Report)

 The June highs has formed resistance and my expectation that the Australian stock market is moving into a 2-monthly wave pattern down into 5591 and July lows.

 I would think this level is the ideal time to be getting back into the market with the expectation it is going higher. look for 5-day high breakout to confirm

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