SPI Weekly & Daily charts
The SPI last Week drifted lower towards the Monthly 50% levels, whilst the US markets rotated upwards.
Expectation price is coming down in the June 50% levels, and the probably rise upwards the closer it comes to contract expiry.
At this stage the view is the markets are currently supported between the 50% levels and the monthly highs, and if a new Down-trend does occur it would probably be after the expiry. But I’ll come to that later.
SPI 5-day pattern
Last Week’s trading was simply ideal and precise ;- expectation the market was rotating back down towards the Monthly 50% levels, whilst the 5-day pattern was rotating within itself, whilst the intra-day price action was once again 44 points…. :- support/ rotate/ and extend
And next week looks as describe ;- Premium Trader
