In the Weekly chart the same pattern, breakout of June's lows @ 5100, can send the market down into 4836 before any reversal pattern back towards July's 50% level occurs"
Weekly Report
"Below 5000 and it's pushing down 44 points, and then it becomes a random day, much like yesterday...
As long as I'm trading on the correct side of 5000 and I know that price will move 44 points away from that level." (once Monday's 44 point range completes)
Tuesday's report
SPI Daily and 5-day pattern
SPI continues down into the Weekly lows, confirmed with the rejection pattern away from 5000 on Tuesday, and the minimum move of 44 points downwards.
It wasn't until Monday's range completed @ 4993, was the pattern confirmed and the down move verified into the lower 5-day levels.
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