S&P Primary cycles
From my previous report in October I wasn't expecting US markets to rise back above the 2014 highs (@1970) once again:- using 1922 as Sell resistance.
However, the 2-week support in October pushed the index back up above those highs resulting in Primary & Secondary cycles remaining bullish coming into the end of the year.
If we compare the Australian Stock Market Primary cycles and the current S&P trend they look to be moving in opposite directions, as the S&P is back above 1970 and potentially can rise up towards the 2015 highs, as part of another break & extend pattern.
In the short-term, whilst the S&P is above the 2015 50% level (1941) then the UP trend remains intact.
