SPI Primary & Monthly cycles
Trend bias is to complete the Primary cycles based on the Dilernia Principle of Break & Extend towards the 2014 highs.
As we can see, the change in cycle saw support come into the market @ 5266, whilst within the Monthly cycles there is another break & extend pattern that suggests the minimum move will be towards the April highs. (March 50% level Support)
My view remains, off load Margin long positions around those Yearly highs, whilst keeping an eye on the same patterns in US futures markets (Read US report)
