US Markets are currently trading above their Weekly 50% level with an further UP move this week towards 12700 on the DOW, and 1390 in the S&P...The only way that price is going to move that high this week is if US Fed cuts rates....
Both markets are still trading below their 'January low' CRASH-Pattern.
This week I was looking for a 'HOOK' day...however the hook didn't come down and re-test the Weekly 50% level on Tuesday, instead it has moved up into the 3-day highs.....(read previous US report)
Bearish pattern:- is a break of the 5-day 50% levels in both markets:- and expectation that price will move down on Wednesday towards the 3-day lows....
Note: breakout of the 5-day highs and push upwards towards Weekly highs only if Fed cuts rates.
Day trading US markets below Wednesday's 5-day 50% level, I would look for a move towards yesterday's 5-day 50% levels (12157 & 1328)
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