"Last trading day of the month and by the lack of upside in US markets this week, I would say that it's a forgone conclusion that Markets will continue down in March.
We have an Open Trading Pattern where the last R44 range needs to complete before Friday begins, and that is going to be defined by 3303.
If it's above then the expectation is that price is once again rising upwards 44 points, as was the case yesterday"
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SPI Weekly and 5-day pattern
SPI opened above 3303 on Friday and moved up into the 5-day 50% level and 44 points.
The rest of today remained choppy around the highs, with a late sell off into the close.
Next week's trend guide once again will be the Weekly 50% level and the Weekly lows.
Any greater move downwards will have to be confirmed with a breakout of the 5-day lows, which hasn't happened for awhile, based on US markets heading lower.
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