Based on this week's price action, i'm struggling to find any reason why the DOW and the S&P would have an UP day on Wednesday.
Below support and expectation is to follow the 5-day pattern lower in Wednesday's lows.
If that price action on Wednesday can play out and bounce off Wednesday's lows, along with matching the Weekly lows, then on Thursday I would favour a higher day.
Probability pattern and pattern recognition doesn't favour higher moves"
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DOW Weekly and 5-day pattern
Wednesday continued down into the Weekly lows, but couldn't hold, breaking the 5-day pattern along with the 3-week lows .
It's not surprsing that Wednesday couldn't hold, simply because the higher Timeframe patterns (Monthly & read the Weekly report), are thrusting downward.
At this stage with 2 days left in the trading week, I would find it hard to see US markets trading above those weekly lows.
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