SPI monthly and WeeklyWith the SPI trading below the December 50% levels and not moving down into December lows this week, it's now looking like the market will remain in a consolidation pattern until the end of the Year.
Friday's price action often suggests that next week will begin with a 2-day UP move:- random length.
Therefore if the first day is trading above 4690 (daily close), there could be a chance that the market is moving back towards the 3-week highs @ 4811.
Based on the overall market dynamics I still favour a down move in 2010, but if Tuesday is above 4690, then there is a bias to move into a higher Weekly close.
Of course any moves in the market will be dependant on price action in US markets.
