SPI Weekly and 5-day patternBelow the Yearly 50% level @ 4455 and the bias is to continue to drift lower towards the 4th Quarter 50% level.
Today started with an 'open' trading set-up, that means that the last R42-44 range from the previous day needs to complete before the trading range dynamically shifts forward.
Price rose upwards into 4442, with matching 5-day filter at the same price.
Once it hit 4442, there was an expectation of a move down into the 5-day lows @ 4391
However, the best the SPI could muster was a 21 point down move.
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