"Early trend guide on the SPI is going to be 4723...
If above it's pushing up towards resistance levels @ 4744-52.
Below 4723 and consolidating pattern around support @ 4696"
SPI Weekly and Range.
SPI is currently trading above the monthly 50% levels with a bias to continue higher.
However, based on the current price action in the daily range I’m treating the SPI as consolidating within the daily range and looking for short-term patterns of 21 & 42 points using support or resistance
After initially continuing higher from 4723 into resistance levels, today remained range bound with little movement around the top.
Index Futures SPI, DOW S&P, & Forex
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If above it's pushing up towards resistance levels @ 4744-52.
Below 4723 and consolidating pattern around support @ 4696"
SPI Weekly and Range.
SPI is currently trading above the monthly 50% levels with a bias to continue higher.
However, based on the current price action in the daily range I’m treating the SPI as consolidating within the daily range and looking for short-term patterns of 21 & 42 points using support or resistance
After initially continuing higher from 4723 into resistance levels, today remained range bound with little movement around the top.
Any short-term reversal back towards the monthly 50% level this week is either going to happen based on price action in US markets...
Or Thursday's set-up (tomorrow) using the levels in the daily range
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