9:00amLooking at the Weekly price action and analysing the Market’s re-action to certain levels in December, things are starting to look like it's unwinding major trends and cycles.
The up swing and failure around the Week cycle highs @ 6647, and collapse into December lows is something that often occurs in Quarterly timeframes, however the re-action to 6251 and failure to remain above this level, is a worrying sign for major trends, and it’s beginning to look worse for any new uptrends to develop.
US markets don't look like there is going to be a higher close on Friday, and in the Australian market it looks like it’s consolidating around the December lows for the rest of this week.
Full Report (Weekly) on Major Trends this weekend
Thursday: Risk 6182.
R87 lows…
Consolidating price action with a ‘ Weekly down’ bias.
At this stage I’m only looking for 22 and 44 point moves today, with a Thursday Up bias:- because of lower Range Spiral points.
Don’t trade longs below 6182…
Note:- A rise upwards from lower R87 spiral point and expectation that 1-2 day upswing would move minimum 87 points.
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