8:30January lows:- Monthly support in a down trending market, with expectation that markets 'can' swing upwards this week, with any up-moves back towards the 3-day highs @ 6231, which also matches the Yearly balance points.
Today's higher open will complete the 'gap' closure I was looking for yesterday.
Today:- Critical level is going to be the Weekly lows @ 6126
It can be resistance today, and push the market back down....
A higher open 'spiral point' and 44 point down move will be an important level in the market for any upswing back towards the 3-day highs (back above 6126).
However:- keep an eye on 6112....
Basically:- a push down from 6126-9 into 6112 and move back above highs and price could easily continue higher... (22 points down and reversal)
The best longs will come from an R44 low, so I would like to think that price will move down into an R44 low and rise up higher:- highest probability pattern is to trade up from 'support' and 'spiral lows'
I also know that it might not play out as I would like today....
Upside swing:- 5-day 50% level @ 6173
Below 6126 and Thursday remains flat
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