DOW and E-mini Weekly chartsRising up from Quarterly support and moving towards critical levels based on the 3-week cycles.
Just like the 3-day cycle, the 3-week cycles are important for the overall trend bias of the market. We can see the resistance zones back into December 2007 and failure.
If the US markets are well supported, then the expectation is that this Week should close above them, and then we would look for a rotation Up towards the April Highs.
A failure to close above those 3-week cycle on Friday and it is beginning to line up for further weakness at the start of April.
DOW and E-mini Daily charts.
US markets rallied on Tuesday, and moving into a multi-day rally towards the 3-week cycle highs.
As a bullish set-up I would have preferred to have seen a 2-day consolidation and then a 3rd day rally up allowing for a higher probability Friday close above those 3-week cycles, than have the start of the week rally upwards, because I still expect a 1-day down day within the Weekly timeframe.
DOW intra-day
Tuesday's expectation was a rise upwards into 12625 and then reverse back down into support. However the market continued upwards 144 points before stalling...
Therefore my expectation is that price is coming back down into support....
Support can be valid for a continuation of the UP Weekly trend, or it could be part of a 1-day reversal down into support.
E-mini intra-day
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