I also pointed out in the Weekly report, that for any UP trend to continue price would come back and re-test the Weekly 50% level, before any new UP trend could continue.
And this is whats happened this week.
Price action favours rising higher as long as price is trading above the weekly 50% levels:- Trade on the side of the blue channel....
DOW Daily and 5-day pattern
US markets have found support above the Weekly 50% level, and looks to be pushing higher into Friday....
Early selling pressure on Thursday, before a crossover of the blue channel and heading higher...
- Daily Trading Set-ups & Analysis
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