US FED cut rates and markets rallied hitting January lows (resistance), and pushing price back down into the 5-day 50% levels..Last day of the month and January low resistance disappears, and February has lower Dynamics (lower lows)
Thursday's trend guide is the 5-day 50% level...
Same applies on ES...
Weekly 50% level support price atm...
I don't have a view on Direction on Thursday:- Both US markets are still trading above their Weekly 50% levels and are in 3-day BUY cycles...
Above 5-day 50% level and it wouldn't surprise me to see price back to the highs again....
Below the 5-day 50% level it's down to the 3-day lows in both markets....
Note: in the SPI today there were 18x 44 point ranges:- over 800 points of volatility in the market, which I can't recall the last day it was like this.
So expect some volatility
Posts
