Yesterday we have a reversal pattern back down into the Weekly 50% level...
If there is going to be a continuation of the trend upwards based on the single monthly breakout pattern, then it's either going to occur from the Weekly 50% level or a lower Weekly open (Monday)"
SPI Weekly & Daily range.
When the market opened above 4901 and moved upwards in early trading I knew there was less chance that there was going to be another down day.
It was more likely to remain range bound in a tight trading day around the channels.
Any selling was either going to occur late in the day with another break of support
(4901)
Or swing upwards into the close based on the market continuing towards the April highs & towards a 42 point high @ 4939.
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