SPI Primary & Secondary Cycles
My view of 5399 stalling the market (Sell Zone) failed with last Friday's close above that level.
Two important patterns have occurred since the market reaching the 2014 Primary highs..
1:- Reversal down into the 2014 50% level and October lows (Support)
2:- Last week's close above 5399.
This suggests the overall Primary Trend remains bullish, along with 5399 now being a random support zone, and that the trend will likely continue up towards the 2015 highs.
The most robust pattern of the trend continuing higher is for the Trailing support (currently 5139) rising upwards and forming a higher Support zone in December, providing the next thrust pattern.
