SPI Primary cycles
My target of 4752 in the 4th Quarter was nearly reached, and because of this week's closing price, the Primary trend for 2013 suggests more gains towards 4853-4880
Now whether the trend will breakout of those 2013 highs and continue upwards for the next 2 years is yet to be seen, but my view is that those levels will form resistance, as the S&P reaches its own 2013 highs.
Long term support around 4447-4467
SPI Monthly & Weekly cycles
Breakout of the December highs will see the trend complete the break-n-extend pattern into the January highs.
Even though I have the SPI moving higher into the 2013 highs,
these January highs have often formed resistance pusing the SPI back down into trailing 1st Quarter Support
currently at 4532.
