As I pointed out yesterday, I would rather go LONG on Wednesday than on Tuesday, because yesterday was part of a reversal pattern from a higher Weekly open.
Once again Yesterday's 44 point range needs to complete before the trading day begins, and because it's occurring from a higher spiral point the bias is to move down before it goes higher.
In conclusion:- the overall market looks to be going higher, but using intra-techniques I can't trade long on the open because I prefer to trade on the upside from lower spiral points"
SPI RECAP:- 11:20am
SPI moves down into an R44 low and move up towards the Weekly highs @ 5699
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