SPI looks to be pushing up into 6065 this week, helped by BHP/RIO.
With the breakout of the Weekly highs then the expectation is that price will often remain above those levels (5861) and continue higher.
However the SPI will open around a higher Spiral point, which once again favours a push down from open.
Yesterday's open pushed down from the Spiral point, but the rest of the day was defined by price trading above the Spiral 'Risk' level, as it continued higher.
Today's higher open, and the risk level will be higher, which favours a push down...
SPI Recap 16:30SPI sells down on open and swings in 44 point ranges....
Posts
