Support was verified around the 3-week lows @ and the market is showing a lower Weekly open moving into a higher weekly close.
At this stage the SPI is still trading below the Weekly 50% level and 3-day cycles, but the Market will open up much higher on Monday due to the US markets moving higher.
The market remains supported, but it will open around October highs once again.
Short-term:- Expectation that the 3-day cycle will change on Monday, but the expectation that the SPI will move in a 2-day stalling pattern with a down bias and retesting the Weekly 50% level again....
Weekly view:- Consolidating pattern but watching US markets if there is a break of the Weekly 50% levels next week, because this will be the first sign that markets could come under and rotating pattern back towards the October and November 50% levels.
US markets are showing 'Dilernia Drops' which is forecasting reverals in the market next week.
