SPI Primary & Weekly Cycles
Along with similar moves in US markets, there's a good chance the BUYERS will begin to move into the markets next week, but it's WAY too early to be saying a NEW UP trend will occur, as it hasn't follow my TEXT BOOK bottom in MARCH, but it's a 'double bottom' nevertheless' (Previous Report)
These moves in the Primary Cycles are often very predictable. We've seen the expected 2-wave Primary cycle downward (Dilernia Principle) at the start of the year and we've seen the double bottom and buyers appearing around the lows.
However, even though it's playing out as expected, it's not a TEXT book pattern that screams BUY the market, because these lows should be occurring in March.
Therefore, it's more of a wait and see approach, and trade on the side of the February 50% level. If these are infact robust double lows, then price will need to consolidate above the FEB 50% and then continue upwards in March using the same dynamic 50% level.
