Because Sunday is the first day of the breakout of the Yellow channel, then Monday has an expectation that there is going to be a 2nd down day.
Often a 2nd down day aligns with the 5-day 50% level.
If this is the case, then there could be early support on US markets into the 5-day 50% levels, but I'd be surprised to see higher prices...:- 50% level rejection.
Below support and it's a random length, but markets are coming down towards September's lows,as shown in the Weekly report"
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S&P Daily and 5-day pattern
S&P was bang on the money on Monday.
Rising up from support and back into the 5-day 50% level, and then a continuation down on Monday, as part of the 2nd day sell.
S&P is now starting to get down to my 2008 yearly low target of1158-73.
These levels are what I wanted to see reached before any 3-month counter-trend UP move begins, which will be verified in the next Quarter.
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