SPI Trading 16th MAY Recap

Morning Report....

"Expectation that SPI is moving UP towards 6065...

However the SPI will be opening around the 5-day high @ 5986.

The 5-day high is a valid 'Sell' with the expectation that the downside gap will be filled (44 points).

As we can see in the Daily charts, most of the trading day's this week have been tight 44 point range days, and each higher Daily open is being influence by the US markets continued up move into the Weekly highs.

Today is no different...."




SPI Recap 15:30

SPI continues higher into the 5-day highs, and reverses down from 5986.....

Weekly SPI Report tomorrow....