SPI Primary & Weekly Cycles
WHEN IT HITS 6775, I WOULDN'T WANT TO BE HOLDING LONGS, AS IT RARELY SPENDS MUCH TIME ABOVE THIS LEVEL IN THE PRIMARY CYCLE
6775 IS A LEVEL YOU WOULD LOOK FOR SET-UPS TO CAPTURE SHORTS FOR REVERSALS INTO LOWER LEVELS, AS PART OF A TREND THAT'S GOING HIGHER. (previous report)
The SPI hit 6775 and stalled.
Looks to be moving down towards the AUGUST 50% level @6587
The August 50% level is a random support zone, that may hold for a number of days. (look for 5-day high breakouts)
However, a failure of it holding and the SPI will move down into the Yearly high Support levels @ 6383 - 6262
I still think markets will be higher in 2020
