The first sign of a continuation of a reversal down from the November 50% levels is a break of the Weekly 50% level.
Continuation of the down trend on Thursday would see prices swing upwards into the 50% levels early on Thursday and then move down in the 5-day lows and could travel as far as support.
This would result in a break of the Weekly 50% level, and the 2nd sign of a monthly 50% level reversal after yesterday's break of the 5-day 50% level"
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S&P Weekly and 5-day pattern
Wednesday broke support, but the ideal pattern on Thursday was to have a slight rise upwards into the 5-day 50% level and trade down into the lows.
As pointed out in the report, a move down into support on Thursday, which ended up much further than expected on the day, but not in this Month.
Expectation of a continuation down into November lows
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