and 4300 will also define whether the trend moves down into 4256, and as low as the Weekly lows 4239 (Previous Weekly Report)
SPI Weekly Cycles
Weekly lows formed Support @ 4239 this week...
and next week's 50% level @ 4309 will define whether market continues to consolidate around the April 50% level...
or there's a short-term rise up towards 4358
After reading the US Index report, there is potential weakness next week until the S&P moves down into 1347.
Note:- Whilst the SPI is trading above 4257 the trend remains stable with an UPward bias.
However, I still believe that the market will visit the 2nd Quarterly 50% level @ 4146 during the current 3-month cycle
