SPI opening outside the Weekly lows @ 5525 (resistance)
SPI opening inside the 5-day range 5413 and 'Gap trading'
Support 5413 .....
I favour Gap trading using support up towards the Weekly lows and previous 5-days lows as Resistance...
I favour Gap trading 'longs' inside the 5-day range, and not outside the range.
High Risk trading longs below Support, and trading longs around resistance..
Today is going to be wild, spreads wide, volume thin, slippage highly probable on any stops...
US markets are moving into a blow-off bottom, which I'm keeping an eye on around 1234-40 on S&P for any low and major counter-trend rally to stabilise markets, before heading down lower in the 2nd half of the year (Weekly report)
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