At this stage there is no Monthly low breakout, and with 1 week left on this month, there is a possibility that US markets could begin to rotate back upwards towards the December balance point next week.
But first any rotation upwards would need to move back towards the Weekly 50% level, and then 'HOOK' above, which often leads to a higher Weekly close by Friday.
Monday's trading is simple defined by the Support levels on both markets.
Above support on Monday and price is rotating back towards the Weekly 50% level"
Premium Report
DOW Weekly and 5-day pattern
US markets have rotated back towards their Weekly 50% level.
There has been some selling appearing around Monday's highs, but as the Monday report suggested, a Daily 'HOOK' above the Weekly 50% level along with November lows could see higher prices into Friday, as US markets rotate back towards their Monthly 50% levels starting next week.
It's imperative that Monday closes above the Weekly 50% level, and Tuesday moves higher if any reversal pattern is going to continue this Week.
- Daily Trading Set-ups & Analysis
Posts
