I'll be shorting resistance @ 3724-27 (5-day 50% level)
And Support around the Weekly 50% levels along with 3659"
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SPI Weekly and 5-day pattern
SPI didn't push up high enough today to move into shorts, instead drifting down into support @ 3659, but failing to swing up an entire 44 point range.
Another consolidating trading day...
"If US markets have an UP day on Tuesday, then my view is to see howthe next two days of trading plays out:- Wednesday and Thursday. If price remains range bound between 3663 and 3732, then I’m looking for the next SELL pattern on Friday (larger trend play), or early on Monday to continue the move down towards the Monthly 50% levels"......................... (Yesterday's Recap Report)
Tuesday was an UP day in the US, and today was the first of a 2-day consolidation pattern.
If that's the case I would expect another day like today and then look for any 'short' trading set-ups from Friday for a larger Trend play using resistance within the 5-day pattern
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