This will complete the move towards 3419-25.
If you want to position trade the market you would hope that SET-UP A plays out and you short-trade the top.
For a move back down into 3364"
Premium Report
SPI Weekly and 5-day pattern
SPI bounced off 3353 and completed the move back towards the highs.
Once those highs were reached, and as per Premium Report the expectation of position shorts for a move back down towards 3364.
I have the view that the SPI is heading down into 3128 (February lows) and these completed highs would be an ideal area to take a position.
The rally was precise, but the tops weren't, as it kept on breaking above the channel highs @ 3432.
Actually I expected the SPI would remain below 3425 and continue down.
I like my patterns precise and today's 'short set-up' was frustrating, as I expected far more resistance and selling around today's highs.
I was expecting a move back down towards 3364 in the day session after today's early rise.
It will now depend on US markets on Thursday if the SPI has further follow through on the downside for the SPI.
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