SPI Primary & Weekly cycles
The 2014 50% level has supported the Australian Stock Market, and as mentioned in the previous report, the US markets continue to look bullish, which was enough to drag the Aussie market upwards and close out the 2014 Primary cycle right at a critical level.
As mentioned in previous reports, the 2015 50% level @ 5377 is going to define the trend for the next 2 years, especially if it's trading below it.
If you look at precious metals (read Gold Report) my view is that there is weakness in those commodities which is enough to push our market down into the 2015 lows, however US markets continue to look bullish.
As we can see the SPI is going to open above on the January 50% level @ 5355 which is going to define the short-term trend.
Read S&P report
