DOW and ES-minis
US markets consolidating around the November lows.
I still have the same view that these November lows will support both markets until the end of the month when Market Dynamics shift and new levels come into play to start the next monthly trend in December.
Above the December 50% level and the trend is up. Below the December 50% level and the trend is down and following the Market path of December lows.
Tuesday was an inside UP day, and today opens around the middle of the 5-day range.
Wednesday:- Trading the middle of the 5-day range is often choppy but it should give clarity of which direction the market wants to go.
Keep in mind the similar price action that occurred on the SPI today:- A higher Daily close on Tuesday has the potential of rotating down into Daily Channels lows.
DOW is above the 5-day 50% level, ES-minis is below.
No set-up for Wednesday.
Support Channel lows.
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