DOW selling off on Tuesday, and moving back into support level:- Which for me isn't a vaild support level if it's selling off on Tuesday and moving under the Weekly 50% level......The Short-term view of the market has been modelled to move higher on Monday towards the 5-day highs, this is valid unless price is trading below 'support'.
A Monday that rises higher has a random length:- it might reach the 5-day highs or it might not, but it's not a 'shorting' day whilst trading above the Weekly 50% level.
A Monday that rises higher is the start of a new Trading week with the potential that price could continue higher each day:- But that's not my Analytical view because of resistance.
A 'shorting' day will be valid around higher timeframe resistance and a higher open on Tuesday, but that will need to be confirmed by price moving back under the Weekly 50% level.
If that price action occurs then my Analytical view is price is moving back down into Weekly lows, and at a much faster rate than many would expect....(Weekly Report 17th February)
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