For any UP Trend reversal to take place, the first stage is the move above the 5-day 50% level,
The first baby step in any reversal is the 5-day 50% level (5435)
Any further moves upwards will be back towards the 3-day highs and previous 5-day 50% level @ 5715...that will happen if US markets continue upwards on Wednesday....
(Wednesday SPI Report 23rd Jan 8:30am)
Expectation that price will move to 5715 today
and a move towards blow-off top @ 5771 (today’s morning report 8:30am)
12:00 pm
Today's price action was not unexpected, the only thing it didn't allow myself any set-up to trade longs upwards into these highs.
I knew once above 6541 and the Dilernia Pivot trading shorts was open to Risk......
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