Today:- the first target pull back is 4583 (random support)
SPI Weekly and Daily range.
Today’s higher open completed the break and extend pattern from Thursday @ 4543.
The initial expectation was for the market to pullback into 4583:- daily level and also Weekly highs, which failed to hold support, and the rest of the day remained within the daily levels of 4562 & 4583.
The market may continue to move towards the July 50% level next week, depending on the price action in the S&P overnight…
Or it may continue with the 2-day downward reversal pattern, as part of another move towards the ‘July lows’
Weekly report out tomorrow, along with new Weekly levels
- Daily Trading Set-ups & Analysis
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