With the bias to complete the r42 range from Friday"
SPI Weekly and R42 range..
Today was simply trying to use resistance levels @ 4395 with the expectation that the R42 range was trying to complete down.
Early resistance of 21 points from 4395, but then a move up towards the highs @ 4404 and then another R21 reversal downward, but a failure to complete the R42 range @ 4364
As per Weekly report, my view is a large 3-month consolidating pattern during this Quarter, with the possibility that price can revisit the monthly lows once again.
Whilst the market is below the Weekly 50% level the bias is to move down towards 4299 this week.
Above the Weekly 50% levels and the trend continues towards the July 50% level.
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