That should be confirmed with a 5-day high breakout. (last week’s report)
BUY zones are my levels that I believe will provide the most robust support levels for the market to rise upwards from...That upward rise is back towards the 3rd Quarterly 50% level (June 25th Weekly report)
SPI Quarterly cycles
I was confident that the market would rise upwards from the BUY zones in July, as it matched the exact same pattern in 2010.
with the expectation that the trend will continue back towards 4721 to 4804 during the current Quarter
SPI Monthly and Weekly Cycles
July BUY zones were confirmed on Wednesday, with a 5-day high breakout @ 4500.
Next Week:- The SPI could remain within the Weekly levels, and consolidate for the next 5-days...
but if it's above 4617, the trend bias is up towards the July 50% level and then 4721-4804 during August.
Once again, this pattern is reliable, unless the US fails to raise it's debt ceiling.
