Hard to go long on a spiral top, but any downside and the Weekly 50% level is viewed as support with a R42-44 spiral low.
If it's not trading below 3295 it's not going down"
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SPI Weekly and 5-day pattern
A higher open and any trader would normally look to fade the open back into support.
That was based on price moving back down into the Weekly 50% level @ 3271.
But as pointed out in the morning report, if it's not below 3295 then it's not going down.
That was based on a 5-day breakout pattern sending the SPI towards the 100% move @ 3345.
If US markets continue higher on Friday, SPI should be around the highs on Monday.
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