jgunthers ethiopian slave traders friday, page-14

Our market looks like it wants to put in a lower low for a typical 1-2-3-4-5 pattern but the US is not being helpful in that regard.

My suggested timeframe for a low of May 28 is complicated by the fact that is a US holiday so allows May 25-29.

That is still just 2 trading sessions which seems barely enough.

One "cop-out" is that lows aren't always the lowest point but are points of acceleration, so just hanging around the lows till time is up is valid even though not easiest to trade.

Ferrera says late June for a low and I thought that might have been a retest of the lows 30 cal days from a low here. Have to wait and see.

He says don't get serious about buying till Oct/Nov and that is my next serious time for an important low.

If we are going lower here now, I have observed an interesting price level. This on 24 hr SPI so it may occur in after hours trading.

First chart is a monthly SPI chart and trend line is 3915ish.

Next chart is weekly SPI (changes 4:30 Monday arvo) and uses 3 period dynamic zones.

There was a serious breech last week and if previous behaviour is repeated it targets a low of 3915.

Finally a daily chart and a measured move on breakdown targets 3913. (On a day trading only perhaps 3922)

So SPI 3915ish is worth watching in the short term if we break lower.