S&P Cash will open right on the Yearly Balance point. (Weekly chart)This level is extremely important for Primary Trend. It has only spent a brief period below this level in 2005.
Expectation on Monday that price would be under presure and likely path would be for both markets to head down in 13304 on the DOW and 1474 in the ES.
These levels are this week's support:- robust bullish price action would need to bounce off here and then confirm a close back above the Weekly 50% level, which matches the January 50% levels.
Until price is back above January 50% levels then the trend remains down.
High Risk trading longs below this week's support on Wednesday.
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