11:55am
2 lousy points shy of 6586 around the lows to confirm the UP move today (low 6588)This would have completed a nice 'money pattern' today.
This move coming into the R44 highs is what I wanted to happen from 6586 (spiral point)
Around these highs the market RISK increases for long positions, but as I mentioned this morning, a 44 point up move could continue higher into the close..
The rest of the day is an each way bet. Major resistance around the highs based on the 3-day cycle and Weekly 50% level, but whilst it's trading above 6627 there is a possibility of a higher close.
A higher close above the 3-day highs will swing it into a BUY cycle, but after any change of cycle there is an expectation that there could be a 2-day rotation back down to re-test the 3-day lows from Tomorrow
If market reverses down later today, no Longs are traded around the lows, due to expectation of 'gap' fill and the potential down move in US markets...(US report later).
No view for the rest of today, wait until it plays out....
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