11:00am
Risk level is now 6390 (pivot) for the rest of the trading day.
Yesterday’s gap filled @ 6383.
I don’t have a view for the rest of the day other than this lower open filling the gap on the upside.
Three scenarios for the rest of the trading day.
1. Continuation upwards into another R87 spiral top, this is confirmed with major support around the higher timeframe November 50% levels, and then continuation upwards for the rest of the week, as it moves towards the December 50% level. (Weekly Report)
2. Stalling day confirmed with major higher timeframe support levels and a consolidating day of 44-point swings after Spiral top confirmed
3. Gap filled and R44 Spiral top reversing back down and remaining below 6390 today and heading lower towards 6328 and 5-day lows.
See how the rest of the day plays out.
Partial exit 6402 (double R22 top)
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