Expectation that the market is heading back towards the January 50% level, and possibly towards the Quarterly 50% level.
However it still needs to breakout of the 3-week highs and close above them, as these 3-week highs have been major resistance and could still be major resistance"
Premium Report
SPI Weekly and 5-day pattern
A bit disappointing today on the SPI, as the 3-week highs continue to cap the market from rising higher.
Once it couldn't remain above 3725, price was naturally rotating back down into the
5-day 50% level and consolidating once again.
There is a shift in the Weekly highs next week towards the January 50% levels.....
And we will see how US markets trade on Friday and whether sycom ends up closing above the 3-week highs.
- Daily Trading Set-ups & Analysis
Posts
