SPI monthly and WeeklyLast week I was bullish on our market based on the MAY 50% levels and continuing towards the highs, however my concern were US markets as they didn't have the same patterns.
Once the daily closed below the Weekly lows and MAY 50% level the bias was to continue back down into the MAY lows.
Currently the MAY lows are supporting the market, but after reading the US report, there is an expectation that the trend is moving towards the June lows in the following month, which aligns with the Yearly 50% level @ 4295.
If US markets start with a 3-day UP move next week, then the SPI will be back into the MAY 50% level, and from next Thursday the down trend can resume.
