Sorry for the delayed posts, but I was posting in the wrong blog section... 'stock-report'
SPI 10:40SPI now trading below 5323 and above the 5-day lows @ 5290.
Today's expectation was that at least price would move down on open around 22 points before any buying would come in. This put price below 5323 and then the expectation that price would continue down into the R44 lows @ 5293 and find support around the 5-day lows.
Market hit a low of 43 points and 5294.....
I was going to go long on the lows, but missed trading longs by 1 tick completion of the bar.
I've done a couple of short-term ‘scalpe’ shorts trades of 10 points using 5323 as resistance.
The view is still for price to come down into an R44 low and find support @ 5290, the interesting part is....will it line up with a nice 11am low...~~~~~~~~~~~~~~~~~~~~~~~~~~~~
SPI Trading Report part 3 (11:09)
11:09
Long 5291 stopped 5284 (-7)
Break of the 5-day lows.... high Risk trading longs below 5290
SPI trading below the 5-day lows @ 5290 and it's 11.00am and the market has settled down.
The only problem is that it's trading below the 5-day lows and below a 'spiral-low'
Expected resistance 5290-94...
Next 5-day lows @ 5259.
The only thing that I would get interested in trading any LONGS based on 'short-covering' today would be an R44 'hook' back the 5-day lows after 14:36.....
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