SPI Monthly and Weekly cycles
The Australian Market continues to rise, but mainly helped by the bullish patterns in US markets.
My view is that the Australian Market will butt it's head against the 1st quarterly 50% level & Weekly highs...
Whilst the February 50% level will determined how stable this trend.
Sure the market can move as high as the monthly highs @ 4417, but I would be more confident in that happening if the Australian Market was already trading above the Quarterly 50% level at a lower level...
not where is it now:- 4292
