SPI Weekly and 5-day pattern
Flat trading day to close out the 3rd quarter.
Today’s set-up was based on the last r42 range from Tuesday, until that completed the expectation of a directional move towards Wednesday highs wasn’t going to occur.
My bias was to use the 5-day high @ 4758 as a trend guide, with the expectation that price was moving down towards support @ 4728
Based on the 5-day range @ 4758…whilst below the expectation was for the SPI to complete the previous range down into @ 4737, and move towards the 5-day 50% level @ 4728
It was a slow and boring day never reaching the lower levels.
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