DOW and other US markets are being supported around major support zones based on the Quarterly 50% levels. (13441)
Both Weekly sell-offs this month were forecasted and forewarned using 'Dilernia drops' using the Weekly timeframes.
Whilst markets are still trading above these levels, the major trends are still up.
The only worrying thing about the Support zones are:- the next Quarter are showing Drops, this can send markets back down in this Quarter, and it was the reason why the first major sell-off occurred in July. Support will obviously change if next week markets break these 50% levels, because the expectation would be to move back down into the November lows.
But just as the Markets were supported around the previous Quarterly lows, at this stage the only expectation is that the same will occur in this Quarter. And Friday’s trading has at this stage confirmed support.
US report continues below....
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