and if it's going to continue down into the 2nd Quarterly 50% level and MAY lows @ 4143/64, then the shift in the Weekly cycles (lower lows) can provide the road map for further weakness.
Trend guide Weekly level @ 4293
SPI Monthly and Weekly cycles
The MAY 50% level along with the Weekly level @ 4293 help set-up further weakness towards the MAY lows and 2nd Quarterly 50% level
which was a target zone, and also a Support zone (4143/64)
However, as we have seen, that support zone failed to hold once the S&P 500 failed to hold its own MAY lows @ 1315.50, resulting in further weakness that could see the SPI move as low as 3785 in 2012
Around next week's lows could see a short-term counter-trend move upwards, as part of retesting the MAY lows (resistance)
But, the Australian stock Market is going to struggle to rise higher than 4143/64 for the rest of this Quarter
