SPI Primary & Weekly cycles
As mentioned in the last report some weeks ago, the trend was heading down into 4600 and the BUY zone.
We can see 4600 attracted Buyers, and now the trend will be defined by the 3rd Quarterly 50% level 4796.
Either the trend makes its way down towards the Yearly 50% level....
or it's going to push up towards the 2013 yearly highs. If it pushes upwards, there is major resistance around 4945 during July.
Note:- there are breakout patterns (DOWN) in the monthly cycles, therefore if it moves up into 4945, my view is that it will move back down to align with the 'future' monthly LOW BUY zone, as illustrated in my book
