However, I'm not sure Wednesday will move down that low, as price completes the break and extend pattern from Tuesday's low into Wednesday's low.
Trend guide 4811 (spiral filter)
SPI Weekly and Daily range.
The market is currently trading within the daily range after finding support using the spiral filter @ 4811, and consolidating above Wednesday's lows @ 4826
Wednesday has also closed above the Weekly 50% level @ 4824, and this could see the market swing up towards 4881/83 (tomorrow).
However, as noted in the morning report, today could simply be a gap fill to yesterday’s low in the day session @ 4838, and tomorrow continues down into the Weekly lows @ 4767.
Either move will depend on the price action in US markets overnight, after the S&P 500 completed it's 2-day reversal back down into the Weekly 50% level @ 1312.
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