Australian Stock Market SPI Futures 30th March 2015 Report

As mentioned in the last report:- 5691 was going to act as support and push up towards 6005... The question is... do you want to be holding LONGS once again once 6005 is reached?  I know I wouldn't, unless there's a pullback within the Quarterly cycles  (Previous Report)

SPI Primary & Weekly cycles

As noted in the previous report, it was time to get out of the market once the SPI hit 6005 (overnight 6011).

As noted in the previous report, the next term long is around the BUY zone, which is currently 5482.

The current price action is very similar to the high reached in MAY 2013 and reversal down into the BUY zone.

However, the only difference between the two patterns is that the price action in 2013 was occurring within a break & extend pattern in the Quarterly cycles, whereas this current high is still part of the current Quarterly breakout @ 5691.

Therefore there is still the potential that the market has another go at a higher high in the 2nd Quarter as part of the extend pattern, and that will depend on the price action in US markets (S&P 500 Report)

But for me, I'd rather sit on the sidelines and wait for the pullback.

Australian Stock Market SPI Futures 3rd March 2015

The Trust pattern upwards from the 2015 50% level and now a close above 5691 is extremely bullish to continue higher 
 Therefore 5691 is seen as support, as the trend can continue to move higher until the 2nd Quarter (April) 6005 is the current target.     Previous Report

SPI Primary & Weekly cycles

As mentioned in the last report:- 5691 was going to act as support and push up towards 6005...

The question is...  do you want to be holding LONGS once again once 6005 is reached? (potentially the MARCH highs)

I know I wouldn't, unless there's a pullback within the Quarterly cycles :- Monthly 50% levels