Friday's breakout of the 5-day lows and the expectation price would move down into the 5-day lows the next day, but it took until Tuesday to full-fill the pattern.
At this stage whilst price is trading above the Support levels (yellow) then the bias is to rise higher ;- ideally the counter-trend move would come and test support and rise up and head towards the 3-day highs, this would be of course confirmed with price trading above the 5-day 50% level...."
Morning Report.
S&P Daily and 5-day patternS&P moved higher and into the 3-day highs, stalling at the Weekly balance point and drifting back down into support.....
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