SPI Futures Australian Market.
As noted in the previous report, The Australian market's target is the 2017 highs (5834) helped higher by the strength in the S&P 500 and DOW.
Therefore if US markets are going higher, our target based on past Primary Cycles is....
6351 (previous Report)
The Australian Market has completed its main path from the 2016 lows and into the 2017 highs @ 5834. If we subscribe to the Principle of two period wave patterns then the Market should continue higher in 2017 and into 2018, with a target this year @ 6351.
However, around these highs is often a major resistance zone but for me it's not a Shorting zone. I still think there's more upside and buying the dips is the way to go.
Note:- short-term likely to follow the dynamics of the April range upwards.
