"In any Up trending market, this test of the Weekly 50% level and the 5-day 50% level can continue higher.
But as pointed out yesterday:- September 50% level rejection can push this Weekly timeframe lower by Friday.
Therefore Thursday's trading is going to be defined by the 50% levels, along with 'Open Trading':- range closes @ 5103 :- it will be a spiral top which should push down.
Today:- judge the market using the 50% levels @ 5102 and filters...."
SPI Weekly and 5-day pattern
Sell off from the 5-day 50% level and open trading and continuation down into the 5-day lows...
Expectation that the SPI should continue down into a lower Friday close, and depending on US markets a lower open further down on Monday.
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