So if you want to get back into the current trend, then that's the area of interest.
However, as a footnote I also mentioned the possibility that if it breaks Support it will continue down into the 2nd Quarterly 50% level (Yellow), which has always been my overall support zone.
SPI Monthly & Weekly cycles
4252/54 has held support , and if the market is going to continue upwards, then the Weekly level @ 4293 will provide the trend guide early next week...
We currently have the same price action during this Quarter as the previous three Quarters:- dynamic Support
However, like all Good Support levels, the market is often dictated by it's lesser
timeframe cycles....(Weekly)
and if it's going to continue down into the 2nd Quarterly 50% level and MAY lows, then the shift in the Weekly cycles (lower lows) can provide the road map for further weakness.
Trend guide Weekly level @ 4293
