The R87 has a 'gap' open, normally the market will move upwards into the gap. It doesn't favour selling. A lower open on 'gaps' will normally push upwards into the R87 gap (yesterday’s morning report)
13:45pm
Yesterday played that role of filling the gaps on the way upwards on Tuesday, and today it’s playing the role of following the market trend defined by the 3-day cycles and Weekly Trend:- DOWN
Price is now back into Major support at the November 50% levels, and further weakness is down towards 6251 and then proceeding lower into December lows.
Ideally I would still like to see consolidation into the end of the trading week, providing the better opportunity for short-trading down into the lower levels from December 50% levels, than this week.
No LONG trading today around the lows today, see how it closes today before trading once again, as the potential to follow the weekly trend lower can occur:- higher daily close (Tuesday) followed by a higher daily open and moving down on Wednesday
Weekly Dynamics are 6273 (channel lows)
US markets still consolidating around major November low support zones.
If November 50% level @ 6363 continues to hold for this month, this same level won't be valid for support in December.
Support disappears as Time moves forward.
Trend Direction defined by December 50% next week
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