SPI Monthly and Weekly
The SPI is currently trading around minor resistance levels in August:- 4565.
With the current price action in the S&P on Friday, I would have an expectation that the trend will try and continue towards next week's highs @ 4606 and then 4672.
As long as price remains above 4512.
There is a possible 2-day UP move beginning next week, however, if the 3rd day drops back below 4512 then August could move into a consolidation phase:- rotation with a downward bias towards the Weekly lows:- 3rd quarter consolidation
At this stage the trend remains with an upwards bias.
