Resistance 4581-86
I’d be surprised to see the SPI above resistance levels today.
SPI Weekly and Daily range
As noted in the Weekly report :- 3rd month 50% level rejection has a bias to continue towards the June lows @ 4460-62.
However, there were two support levels today using both the Daily and Weekly lows (4547/52), with the expectation that there would be a gap fill to Friday lows.
Once the gap filled (Friday's lows @ 4575), the rest of the day moved into a sideways consolidation pattern.
The trend towards the June lows will be determined by whether the S&P 500 breaks it’s own Weekly lows @ 1286, or remains range bound below 1301
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