Lower Weekly open therefore there is an expectation that price will rotate back towards the Weekly 50% level.
That could occur in the first 2-3 days, and then the possibility of continuing down towards the Weekly lows"
SPI Daily and the 5-day pattern
This week the SPI played out the rejection pattern from the Weekly 50% level and down into the lows.
It started with the rally on open into 4051 and then the reversal down into 3921.
What was support yesterday @ 3980 shifted lower.
3921 did support the market briefly today, but once it broke support, price was heading down into the 5-day lows.
Weekly report tomorrow
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