Therefore over multiple timeframes the bias is to continue down because at this stage price is trading below all timeframe 50% levels.
For daytraders :- 5-day 50% level is random resistance and Yellow is random support.
Ideally on Monday is to move up towards the 5-day 50% level and push back down into support"
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S&P Weekly and 5-day pattern
S&P pushed up early before the market opened hitting the Weekly 50% level and then sold back down into support, which was part of today's pattern.
Support was random in a sense, that I didn't expect too much more weakness below that level on Monday.
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