A break of the same Monthly Support level will put pressure on the trend to drop further, until the same pattern appears into the forward Quarterly cycle providing the next long-term entry level:- that long term entry level is @ 4673"
SPI Primary & Monthly cycles
Even though the Market remains above the Yearly highs in 2013, price has broken 2nd Quarterly Support, & now there's an expectation that price is following the trend bias of #B, down towards 4673.
As mentioned previously, Support needs to be validated with a 5-day high breakout, and often that happens with price never spending too much time below those Support levels in each Quarterly timeframe (RED)
Support held on Thursday, but it then failed the very next day, closing below.
Therefore the trend bias is to follow #B
