SPI Recap 11:38Banks are being heavily sold down today and it's dragging the market down. (Stock report banking stocks last week)
Today opened below the 5-day 50% level pushing the market down 44 points and into an R87 Spiral low.... this is either going to send the market upwards, or it's going to stall around the R44 high 5-day 50% level and move back down into close.... each way bet.
Market opened lower and pused down 22 points:- enterted longs ....Long 5558
Market moved up 11 points and reversed down (stopped 5557 -1)
Market chopped around and provide a R22 high Rejection trade with the expectation that price was moving down from the 5-day 50% level and into 44 point lows @ 5532
Short 5564 exit 5551 and 5540
The market moved down into an R87 low and R44 spiral bottom but I didn't switch into Longs because of price trading below Risk levels...
On Sidelines as I'm not going to trade longs trades below the 5-day 50% level today...
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