US markets continued down into the end of the trading week as they follow the market dynamics into November lows. This was confirmed with the break of the Weekly lows this week, and it was confirmed with Sell-offs from the 5 day 50% levels.

I do expect a 2-3 day rally upwards next week, but firstly I would like to see a test of the November and Weekly lows next week before a major counter-trend move upwards towards the weekly 50% levels.

The trend will probably continue down on Monday or hopefully it will so that these lows verify support, before there is a 2-3 day up move back towards the recent break.

The Weekly 50% level will define the trend, and we notice that both the break of this weeks lows matches next weeks 50% level.

I can’t see any major up move in November unless it moves down into November lows, as shown in the Weekly charts above...

Therefore the Weekly 50% levels next week are resistance zones for a continuation move down after any 2-3 day counter-trend UP move.

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