SPI WeeklyLast Week's view was a 2-day pullback and a UP move from Wednesday into the September highs.
There was a continuation into higher highs on Thursday based on US markets moving higher on Wednesday and the SPI has closed above 4656....
At this stage I would expect a slightly higher move in October to fullfil the breakout and extend pattern from the 3rd Quarter (July) and continuation higher into October.
Once we move into the 4th Quarter starting in October, the trend will depend greatly on the price action in the US, (Read the US report)
And like all good breakouts I would like price to revisit the break sometime in the future, which can often occur in the next 3 month period, especially if the S&P struggles to move higher than 1073.That retest of the breakout is around 4159.
