10:10am
SPI:
Pivot highs @ 6627.... early push down but 6613 and the previous 5-day 50% levels has supported the market pushing price upwards towards the 3-day highs and Weekly 50% levels..
44 points up aligns with the Weekly 50% level @ 6656-7
There is still the expectation that the gaps or some rotation down will occur, (3-day resistance) but whilst price is above 6627 the daily trend is up.....
Any downside moves the 5-day 50% level @ 6580 is the rotation zone if price moves back below todays morning lows....
Day-traders this is a target and exit zone and take the day off.....
Others can hold with the expectation that the Gap @ 6562 will close......
Can't trade longs around these upper levels today without at least a 44 point reversal down...
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