"Australian Market Report - Local Markets Are Expected to Open...

"Australian Market Report - Local Markets Are Expected to Open HigherAhead of the local open SPI futures were 5 points higher at 6,368.Friday 17 May - close [Morningstar with AAP]: The Australian share market has risen on the last trading day before the federal election despite the heavyweight financial sector dropping out of the broad rally.The benchmark S&P/ASX200 index finished up 37.5 points, or 0.59 per cent, to 6,365.3 points at 1615 AEST on Friday, while the broader All Ordinaries was up 42.7 points, or 0.67 per cent, to 6,460.2."The market's doing quite well - not what you'd necessarily expect on the eve of a federal election," said CommSec market analyst Tom Piotrowski. "It's surprising to see the market as strong as it is."Mr Piotrowski attributed the rise to the growing consensus that the Reserve Bank of Australia would be forced to cut interest rates following mixed economic data, including the rise in the unemployment rate announced on Thursday.For the week the ASX was up 0.86 per cent, breaking two consecutive weeks of losses."

The above is the Morningstar report which gives the latest futures data shortly before the open of the cash market locally.
We already knew that the LNP had retained government almost certainly with sufficient lower house seats to hold a majority without relying on the crossbench. How could the market fly rapidly to + 110 when the SPI futures were only +5 just a short time before 10 AM AEST.
The question really is: It is obvious that the banks and some other FF high dividend stocks would soar on Monday: how could the futures market get it so wrong?
Must be the same failed methodology where polling companies had Labor clearly ahead of the LNP for the whole of the last 3 years.
What confidence would anyone have in the SPI, as an indicator of the cash market going forward? Certainly it is meaningless to me.