DOW and E-mini Daily chartsBoth US markets have stalled on Monday around the Weekly highs.
Since the start of this year, US markets haven't been able to have a daily close above them.
In the Weekly Report I mentioned that these are valid resistance levels, and if they are going the break higher then from the start of April would provide a much more robust pattern....
But any reversal back down is going to have to be confirmed with a break of support.
My expectation is that price is going to trade down into the Risk levels on Tuesday, but any further weakness will be confirmed with a break of support, and then the expectation of a rotation back into the Weekly 50% levels.
Otherwise Tuesday can end up being another consolidating day between the Channel highs and support.
Note:- High Risk 'short' trading above the Weekly channels, especially if it bounces off support and heads back toward the highs again.
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