Today’s trading is based on whether the market remains below these levels…
Or whether the trend continues higher, and towards the Weekly highs @ 4884
Resistance 4810-4816
SPI Weekly and daily range.
At the start of the day my view was that the SPI would move down from resistance and continue towards 4770/72.
The market opened around resistance levels, therefore that’s the way I looked at it.
However, that changed by 11:20 am with the timeframe close above those levels forming support.
It didn’t reach the highs @ 4878-884, but any further gains will depend on the price action in the S&P 500 overnight.
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