"Even though US markets have traded below the August 50% level, it's actually been supported by it's August balance point over the past 4 weeks.
A higher close on Friday and that balance point will shift higher:- which could result in another spring board upwards in September......
Or price can easily be below that balance level next week if there is a 2-day 'sell' pattern from a higher Weekly open.
Price looks to be heading towards the 5-day highs on Friday, as part of a 2-day extension from yesterday's rally....
5-day highs random resistance, and support as shown"
S&P Daily...
August 50% levels resistance and more rotation on Friday back down into support.
Once below Thursday's 5-day high, the usual rotation down into support to close out the Month right on September's balance point.
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