"2-day reversal pattern playing out from the higher Weekly open and moving down towards support and the higher timeframe Weekly 50% levels.
The pattern that I would like to see is price hit the blue channel lows find support on Tuesday, and then continue higher on Wednesday"
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S&P Weekly and 5-day patternUS markets have played out a 2-day reversal into weekly 50% level, and currently the support isn't holding on Tuesday @ 814.
There can still be an UP day on Wednesday (random length), but that needs to see price back above the 5-day 50% level in early trading.....
otherwise price most likely to follow the move down into Wendesday's support, as part of a higher Weekly open and reversal down :- 5-day consolidating trading pattern
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