tuesdays spi, page-53

Jal

The dynamic low band for SPi at 3422 is not an absolute.

It will contain ordinary days, on strong days it will be exceeded but will close back inside, rare super strong days as in the middle or capitulation part of a powerful move will close ouside for one day and then the next will be inside.

So I think SPi closing below 3422 is unlikely before SYCOM session.

Move today has been a simple 5 waves down and the usually minimum bounce is 0.382, which I think might be about 3448.

Still in the slight downtrend on the CMC chart below and while the bottom line is possible, it still looks like a constructive pattern.

I have to agree the US isn't so inspiring.

CMC charts which are about 38 above SPI.