Pre-Market Premium Report
SPI Weekly and 5-day pattern
"Same pattern reversal as last week, on the fake break above the channel @ 3533 and reversal down, and if we follow the same pattern as last week the expectation is a pullback down 87 points.
87 points down will put price below the 5-day 50% level"
Premium Report 13:45
SPI opened higher and followed the pre market report moving down into the 5-day 50% level and rising higher into 3533.
As per Weekly report, I'm bearish on the SPI and once there was a 'fake' break of 3533 my expectation was that the market was going to reverse back down 87 points.
Whilst the SPI remains below the 5-day 50% level, then the bias is down in February.
It will now depend on US markets on Tuesday.
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