"There is a break of the Weekly lows from last week, and often Wednesday does set-up the market for lower prices after a 2-day stall....
Support as shown, if price does move higher on Wednesday then the previous highs on Tuesday should be use as a trend guide, because prices can reverse back down into support again.
Below support and it's following the 5-day pattern lower, which is part of the bigger picture of moving down into July's lows."
S&P daily and 5-day pattern
Slight push up on Wednesday from support, and then reverses down after a 2-day stall pattern and 3rd sell day, continuing down towards the 5-day lows once again, as it follows the market action of down into July's lows.
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