The 5-day 50% level, as show above (red lines), are going to be a critical factor in next weeks trading because it’s going to set up the next 3-days of trading. Above and it will head back towards the Weekly 50% level, but this time I don’t think it will be resistance, in fact I think it will verify the 2nd day support and continue upwards into the monthly 50% level. (yellow)

After that expected move, the Weekly trading range has a random outcome, because it’s got 2 options:- just continue higher into Friday (higher Weekly close), or stall and reversed back down in a 2-day stalling pattern. But I’ll come to that later in the week.

Note: A bearish pattern will just sell-off on Monday from the 5-day 50% level and head down, and probably continue down over the next few days into November lows....

Index Weekly report continues...