Support around the November lows has been verified with the move back above the 5-day 50% level.
This market move was what the Wednesday Swing trade was about, with UP move coming 1-day late.
My expectation is for a continuation back towards the Weekly 50% level and move higher towards the new monthly 50% level in December before the next move down towards the December lows, as it follows the Dilernia Principle of a 2-timeframe wave pattern in lower lows before any major support and new UP trend can develop in 2008....
Full report found in the Weekly Index Analysis by clicking the US Index DOW and S&P to the right.
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