Based on this pattern I’m expecting more downward pressure to at least close the gap @ 3692.
Price is back inside the 5-day filter channels (blue), therefore the bias is to continue down.
I'm not expecting a move above the blue channel highs, but any ' Hook' pattern above and the bias is to continue upwards"
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SPI Weekly and 5-day pattern
I was expecting a down day today and a move down to close the gap @ 3692
After yesterday's trading and today's open (below 3739) my expectation was to push down 44 points into 3692 and then move upwards into a consolidating trading day.
Instead price moved up early and above 3739 into a Spiral high resulting in a trading day consolidating above 3739.
Choppy trading day....
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