as there is the potential for more weakness if the market begins trading below
the monthly 50% level in MARCH."
Aussie Index Weekly report
SPI Weekly and daily range. (day session)
SPI has opened at the Weekly lows@ 4764 and is currently supported at the MARCH 50% level (day session) @ 4770, after yesterday's reversal down in the S&P 500.
Today has seen a late rise up towards the channel lows @ 4796, but it has struggled for most of the day, remaining in a consolidating pattern above those higher timeframe support levels.
The March 50% level and Weekly lows are often seen as robust support zones, and I would often look at these levels for more gains towards new highs in the current month.
However, there needs to be support in the S&P overnight, & over the next 3-days (Weekly close)
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