This is what I wanted to see happen on Global markets, November levels support the markets and begin the swing back towards the December 50% level before the next trend develops.
This move on US markets above the 3-day highs and Weekly 50% level is the first sign that a major bottom has been set, but only for November. Any follow through is going to be determined by next month's levels.
The Breakout of the Daily channels and the market will remain outside these levels for the rest of the day. However any break of the 3-day highs and Weekly 50% level will normally rotate back down into the same levels the next day to verify support before the trend continues.
Full report later....
Posts
