Please read the Weekly index Reports before proceeding. (Click right)
Above is the Daily SPI chart:- rotating down from October highs into November 50% levels and moving higher from the next monthly 50% level, December.
The expectation is that the market is moving higher in December.
What you notice in the chart is how the trend is clearly defined by the 3-day cycles.
What you also notice is the trend of the Weekly timeframe range being defined by the weekly channels. (green)
Around the extremes of the channels and expectation market will rotate back towards the 3-day cycle, and around the middle of the range price follows the market path once again.
Next week the market path is mapped out to move towards 6735.
Ideally, the best and most profitable trading set-up would once again follow the market down into support and then rise higher as it chases the next level.
The best set-up for this to happen is a 2-day reversal into the trailing 3-day lows and then follow the exact same set-up next week, as last week.
A rise upwards on Monday would be towards 6735, over a couple of days before the most probably reversal back into the 3-day lows.
In Conclusion:- Market is rising higher, expectation market is moving towards the Weekly channels highs, with the best possible trade from lower prices:- ideally around higher timeframe support or 5-day lows.
6647:- Weekly trend guide for next week)
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