The Market could also revisit the July BUY zones in the 3rd Quarter, once it hits the 50% levels, simply because, fundamentally things around the globe aren't providing many positive signs
Previous Weekly reports
SPI Monthly and Weekly cycles
The SPI didn’t remain above 4607, as Monday opened below, and has continued to follow the move down towards the July BUY zones, which is what I was expecting.
The BUY zones around 4395-4405 are critical for the next leg upwards to 4721 and 4804…
That should be confirmed with the market trading above the Weekly level and matched with a 5-day high breakout.
If these BUY zones don’t hold support, then the SPI will probably follow the Primary cycles towards 4137
That weakness will only come about if the US decides not to raise the debt ceiling
