I'm not expecting the SPI to move as high as 6055 this week, but if US markets continue upwards this week then it could be a case of the SPI opening higher each day.
With today's higher open and higher spiral point the expectation is to push down.
SPI looks to be opening inside the channel, therefore I favour short trading down from 5876 and back and the bias is the continue down into 6835 :- partial exit strategy.
After that down-move the rest of the day has a random outcome on whether it continues back down or reverses upwards into the close.
Because price is trading around the Weekly highs and Quarterly 50% level @ 5870, I'm going to focus more on the 'short' side of things today and take the money and run....
SPI 15:15SPI sells down from higher open @ 5877 and then moves in a 44 point rotation pattern with a downward bias and consolidating pattern on Tuesday.
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