SPI Monthly3rd Quarter thrust pattern towards 4400.
Based on Market dynamics the move towards 4400+ might take until September to reach.
At this stage the trading range in August are the highs and the Support the 50% levels.
SPI Weekly
If the SPI moves up into early August towards the August highs, then my view is for price to 'stall', with a potential move down into Support levels and then complete the move towards 4400 in the following month.
However, my view is to start the new week and new month with a short-term 2-day pullback within the 5-day pattern...
SPI Weekly and 5-day patternLasts week's view was for Monday to continue high because of the 5-day breakout from the previous Friday.
After a 2-day reversal into the 5-day 50% level, it set-up up a rally towards the highs on Thursday and a continuation on Friday into' precise highs @ 4215.
Based on this pattern, I'm looking for a short-term 2-day pull back early next week, but with the view of higher prices in August.
