DOWN day in US markets on Thursday:- expectation of 1 down day in an UP trending Weekly pattern, especially after the market has moved up 3-days in a row.Two patterns for Friday:- A higher Weekly close will be based on Friday rising higher (obviously).
A Weaker pattern will be based on a 2-day reversal after the change of the 3-day cycle.
Whenever the market breaks the 3-day cycle, often there can be a two day reversal back down into the 3-day lows.... or usually a 2-day stalling pattern before the next trend begins the following week.
So which one will it be?????
Just like Thursday's trading, the previous 5-day range will give the best view of the market.
Yesterday closed below the 5-day 50% level on Thursday, this is often seen as bearish, and if Prices are trading below Friday's 50% level, then the expectation is that the market is moving down into the channel lows.
A bullish pattern will move up from the 5-day 50% level on Friday, but it needs to move back above Thursday's 50% level for a swing back up into Friday....
There is no high probability pattern on Friday other than trading on the side of RISK levels....
12395 DOW 1352 E-mini
Posts
