SPI Primary Cycles
My view is that the stock market is heading lower, but it is likely to find support around the 2015 lows @ 4990-5065 until the end of the year. (Previous Report)
As we can see the Market has revisited the Support zone after hitting the 2015 50% level.
My view is that the Australian Market will try and move lower in the early part of 2016 until it reaches those 2016 lows.
However for the rest of the year it could move into a sideways pattern around support.
Long term bias is down.
Keep an eye on the 2016 50% level as a trend guide/resistance zone in early 2016
