SPI Morning Report (The Premium Trader) 8:30amAfter reading the Weekly report, I'm favouring a consolidating market trading between the 5-day ranges until the end of April, and if there is going to be a move higher in this quarter it will probably occur from the MaY 50% levels.
In the mean time let's look what has occur in the markets recently.
Last Week, 2-day reversal down on Wednesday into Friday thus completing a probability pattern after the change of the 3-day cycle, and now there is more reason to move higher towards the Weekly highs @ 5699.
Whilst price is above the previous 3-day high break @ 5548 then the potential is the move towards the 5-day highs.
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