Above the 3-day highs, above the Weekly 50% level, above the December 50% level:- Short term and long term levels verify the UP trend.
Weekly expectation:- 2-day stalling period before the trend resumes.
Yesterday was the first day stalling day above the support levels, and today is the 2nd day.
Risk 6538
Tuesday:- another stalling day similar to yesterday and support is 6538 with the expectation that any up move would be 44 points.
Below Risk level and market is moving in a down trend towards the 3-day cycle lows or another 44 points.
If it does move down today it will be hard for me to short the market, or I probably won't short the market because I need a higher spiral point to trade down from to minimise RISK.
Therefore any movement down today, I’ll let the market run it’s course and trade again tomorrow.
No major set-ups for today.
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