10:34
SPI rallied on open and moved into a Double R44 highs (two 44 point ranges)
I did expect some buying support today on a lower open, but I would have preferred a lower open around 5358 and the swing upwards, and not a rally from a higher open.
Short first R44 spiral @ 5422 stopped 5428 -6
Short 5434 stopped 5441 -7
Short 2nd R44 spiral on R11 reversal @ 5454 exit 5539 + 15
Neutral positions on trades to make up for morning losses....
Market can be supported and continue higher later in the day, towards 5-day 50% level or more, however at this stage it's too early to tell what direction the market will move, but the expectation is that price would need to complete an R44 low for a better upswing into close...
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