This was confirmed with Wednesday's break of the 5-day 50% levels, and then Thursday's break of the Weekly 50% level....
Friday:- 5-day 50% level resistance & Support as shown
Friday's support is valid :- This is because of the expectation that there needs to be a higher daily close and failure to close above the Weekly 50% level, sets up a higher daily and Weekly sell-off next week:- Weekly 50% level resistance"
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DOW Daily and 5-day patternAs I mentioned in Friday's morning report:- there was an expectation of an UP day in the US to re-test the Weekly 50% level.
Next Week's 50% level is simply going to define the trend for the next 5-day days.
Above and it's moving back towards the November 50% level (Weekly highs)
If US markets are going to continue down in November's low, then early next week should push down from the Weekly 50% level and continue down all week.
It's simply trading on the side of the 5-day levels next week.
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