A couple of things I'm looking for today which could provide major swings Upwards in Global markets....

Firstly US markets have to break back above the 5-day 50% level on Thursday, and my view is price is heading upwards into Friday.. It will be an important low in the market this week that has so far been confirmed around the Weekly lows, but it needs upside follow through tomorrow to confirm a move upwards.

So far US markets this week have been playing out precisely..

If that is the case, and the SPI is heading down towards the Yearly 50% level @ 5716, I'll be looking for support and counter-trend moves upwards, because if both play out today, then important lows in the market have been set for January.....

And i'll be looking for moves back towards the Yearly Balance points, probably not in this month, but rising upwards from the February balance points next month...

Full report on the Weekly index reports this weekend .....