SPI report 30th Nov part 3

10:25

SPI is trading below the Weekly 50% level and Risk of 6476, and price resumes the down trend

This price action is the gap fill of 6450 I was looking for yesterday to complete.

I was hoping that the Market would open around 6511 to give a much better opportunity to short the market again into these levels.

Around 6456 completes a double R44 range which often can provide a 22 point up swing (short-term intraday trading), but most of the swings in the market this week are 87 points therefore a move to 6433 is not out of the question....

Next best set-up will be on Monday