Friday in US markets have moved into a 2nd day 'stall', this was confirmed once price was under the 5-day 50% level for Thursday, with the expectation that the market would push back down into Support.With 2 hours left before market close, you'll probably get 'short-covering' before the Weekend pushing the market upwards and completing the 2nd day stall.....
Primary range on the DOW is 144 points (book)We can see price is supported around the SD channels on Friday, but trading below the 3-day 50% levels....
This range needs to complete:- down and it matches the Support levels...
However using the SD channel and support @ 12294, it favors a push back upwards to the 3-day 50% level @ 12403 and (144 points upwards)
That's the view for early next week on Monday:- 2 day stall completion and 3rd day rising matches the Technical view based on price patterns and 144 points upwards.
Full Weekly report later......
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