Trend guide is 3780
Above 3780 and it's pushing up into the 5-day highs (random resistance) @ 3811"
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SPI Weekly and 5-day pattern
SPI continuing higher this week following the 5-day pattern, and with the view the market is following the monthly path towards April’s highs @ 3845.
Yesterday started with the break and hook pattern above 3739 upwards.
today followed early support @ 3780 pushing the market higher into the 5-day highs @ 3810.
There is still a Gap on the downside to be filled @ 3692, but looking at the US markets I’m leaning towards another Up day on Thursday….
Simply because US markets are currently trading above their 5-day 50% level, and is following a 2-day reversal pattern down (Monday-Tuesday) and a 3rd day UP move (Wednesday).
Normally Thursday continues higher towards the 5-day highs.
If that’s the case then the April highs @ 3845 might be reached by tomorrow.
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