SPI Primary & Weekly cycles
We also have to acknowledge the SPI is now officially in a bear trend, and bear markets often follow trends lower into 2016. (2-pattern extension into the following yearly lows)
Therefore any short-term support must treat the 2015 50% as resistance for the rest of the year. (previous Report)
The Australian Market has continued its dramatic sell-off extending its low towards the 100% level of the Yearly Timeframe @ 4750
As noted in the previous report, the BEAR-Market pattern often extends towards the 2016 lows, If we use historical patterns clearly described in my book :- Market Trading Market Time, then we should see some consolidation around the current 2015 lows, but then further weakness from the 4th Quarter down into the 1st Quarter lows some time in March 2016
If that plays out, then I'd look to move back into Long positions in the Aussie Market 6 months from now using the 2016 lows and SUPPORT & ENTRY
