Above the 5-day 50% level and Weekly 50% level 3429-35 the bias is to continue towards 3467.
Above 3467 and the bias is to complete the move up into the 5-day highs @ 3517.
Around the 5-day highs and 3417 I'm expecting a 44 point reversal"
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SPI Weekly and 5-day pattern
SPI opened lower but there was the expectation that price had to rise upwards to complete yesterday's move into 3441.
Once that occured, this resulted in a HOOK pattern above the Weekly and 5-day 50% levels, which pushed the SPI back up towards the 5-day highs.
Once around the 5-day highs sellers hit the market.
If the SPI ends up consolidating around these levels for the next few weeks or months then I'd be happy to continue to trade the rotations UP and Down within the 5-day patterns.
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