"Last day of the month and Quarter....
Last 44 point range from Friday needs to complete before Monday's ranges are set-up, and then 5266 will be the trend guide for the rest of Monday...
As pointed out in the Weekly Report, prices could rise upwards before markets continue downward, but Ideally I would like Monday to move down and early part of the Week move into July's lows looking for the next counter-trend move upwards....
The important part on Monday is the completion of the last R44 bar and then 5266 as the trend guide for Monday.
Note:- If the R44 continues higher and completes upwards in early trading, then the same Filter and 5266 will still be the trend guide for the rest of Monday....Morning report...
SPI Daily and 5-day pattern
As pointed out in the Weekly Report:- prices can reject around the Weekly 50% level and continue downwards, and this is what happened today.
SPI opened above 5266 moved up into the Weekly 50% level @ 5303 and reversed back down below 5266.
once below 5266, expectation price was moving back down towards 5185
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