Thought I'd post a couple of charts - weekly and...

Thought I'd post a couple of charts - weekly and monthly.

Firstly, I made a comment Friday afternoon suggesting the up move was just filling the overhead gap. Clearly I was wrong there. Looking at the weekly chart below in fact IMO its clear the market wanted to close back around 3400 for the week (and continue/complete? the retrace to a fib Monday).

Secondly, some great charts posted late Friday by Voltaire, robbbb and SF.

I believe the key next week is where the market wants the index to close the month. IMO it has to be on a key support level/channel bottom. That (refer monthly chart) suggests either around 3000 or 3400.

FWIW, My best guess is we are most likely to close at the 3000 support (rather than the 3400) - possibly near 3083 (refer weekly chart). So maybe after the gap up open Monday we peak around 3480ish then reverse down to spike low around 2920. Probably wildly wrong lol.

Anyway any comments welcome.