SPI Daily and intra-day 5-day chart
As per Weekly report, strength in the markets this week is going to be defined by the Weekly 50% level.
Because the Australian Market has been closed whilst US markets have pushed higher, I don't know where the SPI will open today so I can't give a detailed view on probability set-ups in this report, other than using the 5-day levels as Risk zones.
No doubt the market will open higher, therefore it will be a higher Spiral-point, which favours looking to short-trade down into an R44 low..
Note: In the Stock Report for BHP last week I mentioned that I have a view that prices are moving into the lower Quarterly zones in April-June, however I was taking a higher position @ 31.60 this Quarter.
I'm removing that BUY position this quarter, and waiting until the end of the month to verify the Quarterly levels before taking positions in BHP.
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