"In US markets this Week I was looking for a break of the Weekly 50% level, and UP day, and for the trend to continue down it would continue down from the higher open the next day.
I would have liked a higher move on Wednesday, so that Thursday would be selling off from the Weekly 50% level and the 5-day 50% level.
Wednesday pushed down into support and followed the counter-trend move UP, but I would have liked a bit more Buying into the 50% levels.
Today:- Simply trade on the side of the blue channels:-
If it's trading above the BLUE on Thursday then there is a view that Thursday could be a 2nd 'stalling' day, with the potential of a 3rd day sell (Friday)....
Only if Thursday doesn't 'hook' back above the Weekly 50% level."
S&P Daily
Wednesday's UP day didn't have enough legs, therefore once price was trading above the blue channel the bias was to complete the reversal pattern back into the Weekly 50% level, as part of the 2nd stalling day....
Thursday didn't 'hook' close above the Weekly 50% level.....
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