SPI Futures - Australia Stock Market Monthly Report 7th March 2018

SPI Primary & Weekly Cycles

However, have a read of the S&P 500 report and we can see a different picture that could introduce a lot more volatility in the market overnight.

Whilst the SPI tries to move upwards during the day, (above the FEB 50%), US markets are looking to move lower into Support levels. (Previous Report)

Well that was a bit of an understatement, US market moved much lower into support levels (Read S&P 500 Report) and volatility has remained over the past number of weeks.

I'm still in the bullish camp, and these retracements in February are just part of the Primary Cycle patterns that are expected once. I still favour a rise up into 2020/21, so bullish for another 2 years.

Currently the Australian Market is  trading above the Yearly 50% level, but it might take a number of weeks for the volatility to subside, as the Weekly lows creep upwards and is used for support for the next move upwards in Late March, Early April