If the SPI is going to continue higher it will remain above 4705 and continue towards Wednesday's highs"
SPI Weekly and 5-day pattern
There was a 2-day stalling pattern on Monday and Tusday this week, but remaining above the robust support zone of the September highs.
There was also an expectation that US markets would continue higher on Tuesday, setting up a continuation of the trend on Wednesday.
Today's set-up was based on the breakout within the 5-day filter on Wednesday above 4705, with a bias to continue towards the 5-day highs in the short-term.
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