On Friday I was bullish using the filter to trade longs because I had an expectation of a higher close on Friday, but Monday might not...
Simply trade on the side of the Yellow filter...."
Yesterday's report
S&P Daily
US markets sold off from the Monthly 50% levels and from a higher Weekly open.
Once below the Yellow filter the trend moved down into the 5-day lows...
As pointed out in the previous Weekly report, Friday's failure to continue higher is now beginning to set-up another downward trend, but certain things need to be verified.
As pointed out in the Aussie Weekly Report:- " Any new down trend won't occur until US markets lead..... (Read US Weekly Report) , and dragged down by Financials to bottom out the market."
And Financials were hit hard on Monday....
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