"We have come into a rougher phase on the share market instead of going off in a straight line like it did through last year and much of this year," AMP Capital Investors head of investment strategy Shane Oliver said.
As a result, he said, the market would be volatile and investors needed to carefully pick their stocks instead of attempting to ride the market up.
For the week ending November 4 the benchmark SP/ASX 200 index surged 136.5 points or 3.1 percent to 4,519.5, while the broader All Ordinaries index was up 127.8 points at 4,468.3.
Attention next week will also focus on the Reserve Bank of Australia's quarterly statement on monetary policy Monday, where the central bank is expected to express concern about inflationary pressures.