If the SPI is going to consolidate for the rest of this week and below the Monthly 50% level, then it should move back down from this level, but it would need to be trading below 3500.
As any robust trend would ideally move higher from the 5-day 50% and preferably a lower channel"
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SPI Weekly and 5-day pattern
SPI had a high @ 3522 and has moved into a down day, which is part of the consolidating pattern around the Monthly highs.
Expectation the SPI should be re-test support around the lower channels before any potential UP move can play out.
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