AUSTRALIAN STOCK MARKET -SPI FUTURES 2nd January 2017

SPI Primary & Weekly Cycles

further weakness from the 4th Quarter down into the 1st Quarter lows some time in March2016If that plays out, then I'd look to move back into Long positions in the Aussie Market 6 using the 2016 lows and SUPPORT & ENTRY  (SEPTEMBER 2015)

TEXT BOOK sell-off in the Aussie market at the start of January, and we now have both the Australian Markets and US markets in synch. These SELLOFFS at the start of 2016 have all the hallmarks of forming a Double Bottoms around the 2016 Yearly lows. (January 9 2016)

We have seen the Australia Market play out TEXT book patterns within the PRIMARY CYCLE, and with the expectation that the TREND will continue to move towards the 2017 highs in the early part of the year.

There's 2 patterns at play...

1. continues to move upwards into the January highs, which would be a good time to off load some positions.

2. First 10 days of the year sell down into the January 50% level and then continues upwards for the next 3-6 months (MAY).

Note:- Even though it might reach the 2017 highs in the early part of January I think there's more upside in the market. It would be wise to wait for Quarterly 'sell-downs' to get back into the UPTREND.