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