Friday's Last R44 bar closes above the 5-day lows @ 4889 forming a 'hook' bar with today's higher open.
The only conclusion I can make is:- price is rotating UP towards the 50% levels.
After this morning's report posted on the SPI:- DOW and S&P Futures are UP 200+ points.
Therefore the SPI will open much higher than expected..."
Morning Report
SPI Daily and 5-day pattern
My entire morning report was thrown out the door because US futures gaped up over 200points, which sent our market much higher.
Once above the Weekly 50% level it moved into a trending day, with some ideal spiral patterns...
Spiral Filter ....3 winners and 1 loss using the spiral points and the spiral filter....
And my losing 'short' trade, (2nd trade) was pre-empting a reversal without the filter, which cost me.
Rest of today worked out pretty well....
Interesting night in US markets on Monday.....
- Daily Trading Set-ups & Analysis
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