If price had moved into the 5-day 50% level this week I would say higher.
But it hasn't, and the 5-day 50% level now matches the breakout of the 5-day high @ 4965...."
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SPI daily and 5-day pattern.
SPI sell down into the 5 day 50% level @ 4965 and then a continuation down into the next level @ 4890.
Ths price action today was not unexpected, as it was something I was looking for to happen all week, at least test the Weekly 50% level before any UP trend could continue.
Spiral filter:- simply trade on the side of the filter, and short-covering back up into the 5-day 50% level @ 4965 was confirmed with a bounce off 4890, along with a crossover of the filter at the same price.
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