Previous Weekly report
SPI Monthly and Weekly
Last week saw the market reverse down into trailing support levels @ 4526 and then continue up towards the September highs:- 4628
The upside target during the 3rd quarter is 4672, which may or may not reach, as the current price action the looks to be losing some momentum around these monthly highs.
Any weakness during the next 2 weeks would see the SPI back down into the September 50% levels once again @ 4443, verified by a 5-day breakout.
The trend direction is going to be helped or hindered by the trend direction in the S&P 500, (READ US Index Weekly Report)
