SPI Futures Australian Stock Market 24th December 2013

SPI Primary & Monthly cycles

Primary Cycle suggests the trend will continue to move up towards the 2014 cycles highs (Read US S&P 500 report)

BUY zone in the 4th Quarter @ 4960, didn't reach, but the BUY zone in the first quarter remains @ 5066 if there is any short-term resistance.

Note:- there is a breakout in December (December 50% level matched with red channel),

this can act as resistance (along with 5338) for the rest of December.

A close above 5338 by the 31st of December, as occurred at the end of July, will help validate that Primary Cycle

SPI Futures Australian Stock Market 12th December 2013

SPI Primary & Monthly cycles

Market didn't hit the November highs, unlike the US markets, and we can see that the December support has failed to hold, as part of a Primary trend towards the the 2014 highs.

I still believe that the market will continue towards those Primary cycle highs, however the Monthly cycles suggest the trend will continue to follow a 2-month wave pattern downward into 1st Quarter support.

If the trend does continue higher, then this BUY zone in the next Quarter is probably the best level to be moving back into the market