SPI Primary & Weekly Cycles
There should be support and short-covering this week.
It will be hard to see it going higher than the MARCH 50% level and February lows @ 6564 - Retest of the Break down - RESISTANCE.
At this stage there is no reason to be buying into the Market for BUY & HOLDS, otherthan short-term volatility on the upside into Resistance levels
Next Long Term buy is the 2021 Lows (PREVIOUS REPORT)
We saw a early support last week, but sadly it didn't reach the MARCH 50% level, unlike the S&P 500, which provided the perfect set-up for more downside
When we look at previous Bear Market sell offs, it can often go looking for the 100% of the range, which is 5012.
Once it reaches that point, it doesn't go much lower, in the current year.
Therefore, I would expect some support and around this level, but it might not get higher than 5749 for a number of weeks.
5012 is Support for 2020, but it's not a BUY & HOLD level, that will come in 2021
