SPI Monthly and Weekly
With the SPI range trading within the September levels and remaining above 4656, and with only a few days to go until October begins, I have to favour a continuation of the Trend upwards in the early part of October.
Breakout pattern in the Quarterly timeframe (3-month cycle) in July is continuing into higher highs into the next Quarter:- break and extend pattern.
At this stage with the market above the Yearly 50% levels and 3-Year 50% levels, and now consolidating above the 3rd Quarter highs, the trend keeps on keeping on.
At this stage I'm not going to forecast a 4th Quarter 'top', but simply treat each month on it's own merit until and lesser timeframe gives me clues on any short-term reversal patterns that could lead to longer-term reversal patterns towards trailing 50% levels in the monthly timeframes.
