SPI monthly and Weekly cycles
SPI moving down into the September lows, as part of this week's breakout @ 4002 and extension down into this week's lows.
This was set-up on the back of the S&P 500 breaking out of the 5-day lows, 1 day later than expected.
Next week:- around 3800 could form a robust support zone, and the market swings back towards 4002 and then the start of October.
if that occurs then we look for a potential move back down towards 3634 in October.
However, if next week continues down into 3690/3717, then there is a potential DOUBLE BOTTOM in the market (3rd Quarter) that could result in a major support zone for the rest of 2011.
