Today:- Trend guide on the SPI @ 3874.....
Whilst above 3874 there is an expectation of Wednesday having an UP day"
"Expectation that any continuation of the UP trend needs to occur from an R44 low and with short-covering into the close towards 4000-4049"
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SPI Weekly and 5-day pattern.
Lower Daily open and expectation that the SPI would have an UP day towards 4000-4049.
As per US report:- a higher daily open tomorrow will be dependant on how US markets react to the 5-day filters.
From the mornings' report, US markets have moved up off the lows, and now are trading above the blue filters on Wednesday.
SPI Spiral patternsToday's price action was nice and robust, with R44 range rotations, along with the Spiral filters picking the lows of the market on each lower swing.
Hopefully there is a much higher open tomorrow, and not a worse case 'sell-off' in US markets.
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