US markets supported around the Quarterly lows and consolidating in a sideways Weekly pattern.This Week's expectation was that if price is rising upwards from the Weekly 50% level, then the expectation was that the move would take price back to the 3-day highs.
Those 3-day highs yesterday's broke upwards, but failed late in the day, with the E-minis failing 'resistance' around the previous weekly 50% level @ 1359.....
And Price failing to remaining above the 5-day highs....
Levels of Interest:- 5-day 50% levels
A move down and re-test of the 5-day 50% level needs to move back above yesterday's 3-day high breakout, with the view that price is following higher prices into Wednesday highs.
Tuesday's 5-day highs:- 12396 & 1354
A move upwards early in the day and failing at those highs and moving back down, then a break below the 5-day 50% level price can follow the overall higher timeframes back down....
Note: There is still major support around Quarterly lows
There is no high probability pattern for Wednesday, it's 'Risk' day-trading using the above levels
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