10:45SPI opened above the 5-day 50% level 5435 and rallied into the Resistance level @ 5525….
Expected Resistance level based on the previous 5-day lows and Weekly lows….
Market is trading above the Dilernia Pivot @ 5485…. If there is an R44 hook below and market is trading below 5485 expectation that an R44 down move back into the 5-day 50% level can play out today….
Otherwise it could end up supporting the market and heading upwards into the close from a lower R44 spiral point……
I couldn’t go long today because of the higher open and not opening near support…
First short @ 5497 R11 Reversal
Partial exit @ 5487 stopped on breakeven stops
2nd short @ 5523 and added again @ 5518 (resistance high)
Partial exit @ 5487 and looking for a 2nd R44 reversal downwards into 5448 to be neutral
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