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
We've seen a top in the Market around 6775, however it's still above the Yearly highs in 2019 with the expectation that it's going higher in 2020.
My ideal scenario is, to see the SEPT 50% level push the market down into the Monthly lows, which aligns with the 4th Quarter 50% level in October for the next move higher.
However, it won't surprise me to see it go back up to 6775
Trend line 50% level @ 6550
Random resistance Weekly highs @ 6665
Support - 6245/62
