SPI Weekly Futures2 weeks ago the SPI closed above the Weekly cycles, this help confirm the current lows in 2008 have been set, and the potential of a much great rotation upwards in the Next Quarterly timeframe towards 5800+
The lows in March only had and expectation that price would rotate upwards into the April 50% levels and stall.
However, once the Weekly timeframe closed above 5464 confirming the change of Weekly cycle, the expectation is now pushed higher, with the potential to move towards 5800+, and into the Monthly highs of May-Jun.e
So far B set-up is playing with the expected move towards 5870....
However I favour a B&C set-up, where April continues to consolidate, but then pushes higher from the central zones of MAY and thrusts higher towards May's highs.
"C & D set-up:- Continues down into Weekly lows, and then swing upwards back into the Weekly 50% level, and as high as the April 50% level 5615.This is because of the Lower Weekly open and swing back upwards into a 3-day counter-trend move with the 'new' 5-day trading pattern." Last week's Report
Last Week moved in a 3-day counter trend rally back upwards into 5615, and then a 2-day reversal down after the change of the 3-day cycle.
Next Week expectation that the SPI will move towards 5702 once again, but ideally I would like to see a push back down into the Weekly 50% levels before heading higher....
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