SPI Monthly and Weekly
Last week's reversal pattern from the Weekly highs and back below the June 50% level @ 4519 normally follows the move down into the July lows. (3rd Quarter lows).
Next Week's 50% levels will be the trend guides.
The 3rd Quarter lows can support the Aussie market and then the trend moves into a 3-month sideways pattern (large consolidation pattern) between the 3-month lows and the 3-month 50% levels until October. (4th Quarter)
However, it will depend on the S&P 500 and whether a 3rd Quarter move continues down into the Yearly 50% level @ 969.
