SPI looking to move upwards towards the 3-day highs and the previous 5-day 50% level @ 5715.This is also the Yearly 50% level @ 5716, so there is going to be some resistance around these levels if it gets that high today....
Price is opening higher today, and it's beginning to move away from support zones.... therefore we need to use the previous day's high and any R44 spiral point low to trade upwards....
Yesterday I was shorting R44 spiral tops:- I'll be doing the same today, because I think it has to move down into an R44 low before heading higher, but after the first sell and price is rising upwards from an R44 low or Yesterday's highs, I won't be shorting any R44 tops (above Dilernia Pivot) because I think there is going to be a late move upwards into the 5700+
Levels of Interest:-
Dilernia Pivots 5641 and 5580
Even though I have hypothesize a higher close today, there is no guarantee this will play out and the market could end up back down into the Weekly lows @ 5525.... (5-day 50%)
No Short trading above 5641
No long trading below 5580 (R44 spiral low)
Expected up move towards 5715:- a blow off top could end up as high as the 3-day highs @ 5771
Posts
