Normally in a downtrend, a reversal back into the 5-day 50% level can send the market back down, especially after a 2-day counter-trend move and 3rd day sell-off. (Wednesday)
But it's going to be hard to 'short' a lower Daily open.
A move should rise up from support and move back into the spiral filter.... bearish pattern is a rise up into the spiral filter and rejects price down into 5237, as price is trading below the Filter, whereas yesterday was above"
Morning Report....
SPI 16:05SPI opens lower and moves up into the spiral filter, rejecting down into 5237, as part of a 3rd day sell off.
5-day filter @ 5237 supports price, reversing off the lows.....
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