SPI Update.

Corrective/counter-trend move within a major down trend is currently in effect where potential C wave may be unfolding.All evidence so far is indicative of it ( C wave unfolding).Target of C is shown on the chart which is in the vicinity of the Fib. Golden Mean retracement. A tentative up trending channel in Red shows this counter-trend move.

There is another uptrend working within the channel within the bigger channel if the time frame is reduced.This is shown with smallerchannel in Blue.Second hourly chart.

A repaired and firing extra cylinder from the financials sector┬áso far doing it’s job in propelling the counter trend move without a doubt. Other charts (not shown) from within financials sector suggesting further upside which also includes major 4 banks are likely.

Daily followed by hourly charts of SPI is courtesy of tradingview.com

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