If it opens below the 5-day low @ 5194, then the expectation price will push down 21 points and into 5169.
5169 is my support level for today:- which will be defined by the Spiral filter on any rotations upwards.
Therefore:- as a general rule today to minimise Risk:- no short trading above 5216 and no going long below 5169 (unless confirmed with a spiral filter)
SPI Daily and 5-day pattern 16:05
SPI opens below 5194 pushes down 44 points and reverses upwards...
Once it broke the 5-day filter @ 5216 expectation that the Gap fill and 5-day 50% level would be reach...
Personally I didn't think the market would move into a counter-trend move. Usually when the SPI opens below the 5-day lows (5194) is pushes down 44 points and more often than not will remain below that level.
however I also understand that once certain levels break or cross over the market will follow the next level, which was a move from 5216 and back into the 5-day 50% level.
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