AUTRALIAN STOCK MARKET - SPI FUTURES MONTHLY REPORT 11th May 2022

 

SPI YEARLY AND PRIMARY CYCLES

Target of the downside is the May lows 6787, which might not happen until next week.

However, I think the SPI will push lower in June and touch the Yearly lows around 

6430 - 6565

and mostly hold support for the rest of the Quarter.

a True Bear Market will break these Yearly lows late in the 3rd Quarter and extend down into the 1st Quarter of 2023, which will complete the bear market bottom.

So any buying around the 2022 lows this Quarter, keep stops tight later in the 3rd Quarter

AUSTRALIAN STOCK MARKET - SPI FUTURES 4TH APRIL 2022

 

PRIMARY & WEEKLY CHARTS

       A huge run up on the back of rising commodities, heading towards the 2022 highs

Resistance levels 7676 - 7755

AUSTRALIAN STOCK MARKET SPI FUTURES 6TH MARCH 2022

 

AUSTRALIAN STOCK MARKET PRIMARY AND WEEKLY CYCLES.

Whilst below the yearly 50% level, it's in a BEAR MARKET @ 7116.

However, in the month of March, it's above the March 50% level, and if it remains above this going into April, then we can see a move towards the 2022 highs later in the year., or the back of commodities. 

The exact opposite if below the 2022 50% level and APRIL, as the 1st Quarter is currently support the down trend (Yellow), but can form resistance in April - June.

Then you would be sitting it out until the 2022 lows are reached later in the year and potentially and dip further in 2023. 

AUSTRALIAN STOCK MARKET 7TH FEBRUARY 2022

 

SPI YEARLY AND WEEKLY CYCLES

There's a each way play at the start of the new Year.

1.  pumps to the 2022 highs and reverses down

2.  sells down into the 2022 50% level at 7118, stabilises and then moves upwards and reaches the 2022 highs in late March or April/MaY (previous Report)

The Australian Market looks bearish, it's below the 2022 50% level 

and also in a Break and Extend pattern in January,

 that can see the February 50% level form resistance and push price back down towards the lows.

The concerning pattern also begins in the 2nd Quarter, as currently it's supporting price (Yellow), but could end above price, pushing the trend down towards the 2022 Yearly lows in the 2nd half of the year.

However, as much as the Aussie market looks bearish, the US market is still above the 2022 50% level.

(Read the US Report)

Australian Stock Market - SPI futures - 4th January 2022

 

SPI Primary & Weekly Cycles

Australian market will closely follow the S&P 500.

There's a each way play at the start of the new Year.

1.  pumps to the 2022 highs and reverses down

2.  sells down into the 2022 50% level at 7118, stablises and then moves upwards and reaches the 2022 highs in late March or April/May

Australian Stock Market - SPI Futures 5th December 2021

 

SPI Primary & Weekly Cycles.

Below the December 50% level is not in a good position, but the direction of the Australian  Market will be dictated by what occurs in the US markets.

Read S&P 500 Report 

S&P 500 Market Weekly Report: S&P 500 E-mini Futures 5th December 2021 (usindexweekly.blogspot.com)

 The Australian Market will follow a similar path, and if it does move lower, then it can dip down as far as 6778 - 4th Quarter

or

Zig- Zag into the end of the Year, as it aligns with the 2022 50% level, for an attempt to new highs in 2022

AUSTRALIN MARKET - SPI FUTURES 7TH NOVEMBER 2021 MONTHLY REPORT

 

SPI PRIMARY AND WEEKLY CYCLES

LOOKS TO BE HITTING THE 4TH QUARTER HIGHS AROUND 7845 IN DECEMBER.

I'M GOING TO FIND IT HARD TO SEE IT BREAK THROUGH WITH OUT A DECENT PULLBACK.

A NOVEMBER CLOSE ABOVE 7845, WILL SEE IT CONTINUE TO TREND HIGHER INTO 2022.