#1:- Weekly 50% level becomes another resistance zone sending the SPI down once again towards the June 50% level.
When there is a breakout of a 5-day low the market will move down a minimum move of 42-44 points.
Therefore below 3812-09 we want to be short trading the market down and manage any trades around 3777
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SPI Weekly and 5-day pattern
Today's lower open hasn't followed the same pattern over the past number of weeks of rising higher because the market dynamics have changed.
Yesterday sold down from the Weekly 50% level along with the 5-day 50% level helped by US markets breaking their own 5-day lows.
Today was simply using the breakout pattern on Tuesday below 3809-12 and trade downward into 3777.
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