If US markets are going to complete the move into the Weekly 50% level , then price should be pushing upwards from the Yellow Support zones on Thursday and continue higher.
Trade on the side of Yellow support"
DOW Weekly and 5-day pattern
Thursday started with Price rising upwards from support, but then drifting back down into the close.
The lows are supporting the market, and the normal pattern is for price to rise upwards into the Weekly 50% level before the trend continues down, as per my overall view...
"February lows & Weekly lows currently supporting the market,but the support shifts lower in 2-day's time, and US markets most likely will follow the move down towards March lows.
This follows my view of heading down into the Yearly lows for 2009"
1 day left until the end of the month, and where it closes will set-up the downside target for the Month of March.
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