SPI Weekly and 5-day pattern
Today’s price action verifies my view that last Friday in the market was
the high and that there is a bias to continue down
over the next 6 weeks until the 4th quarter.
5-day low breakout and back under the August highs
Currently SPI is trading above around the Weekly 50% level, which could
play a support role for a number of days.
Until the SPI is trading below that level or US markets the same, it looks
like more consolidation around these highs
US markets currently have weekly ‘Hook’ patterns, so I’m not factoring
in a DOWN day on Friday in the US, as HOOK patterns normally favour higher Weekly closes.
- Daily Trading Set-ups & Analysis
Posts
