US Markets: consolidating around December 50% levels.
Short-term trend Bullish:- above Weekly 50% levels and 3-day cycles.
Yesterday DOW tested and bounced off Weekly 50% levels.
Intra-day:- Trend is going to be defined by the 5-day 50% level.
Yesterday’s report mentioned I was looking for Wednesday to consolidate before heading higher on Thursday.
This will be determined by the 5-day 50% level.
Otherwise another flat day with no trend direction and ‘ sideways channel trading’ until trading Week completes.
No high Probability patterns for Thursday.
Note:- March 2008 Contracts now trading below 3-week cycle highs on ES, this suggests that any Up trend is less likely after expiry
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