Ideally a move from Yesterday's break of Yellow support should continue down into Tuesday's Yellow Support , as per Text book patterns"
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S&P Weekly and 5-day pattern
Expectation of a push down from Monday's break and into Tuesday's support nearly paid off, with support just failing to hit.
I actually expected the 5-day 50% level to resist price, but early in the session US markets moved up to retest the break on Monday.
At this stage in the Week & based on the current price action I'm looking for a 5-day sideways pattern.
Even though i'm looking for prices to reverse down from the MAY highs, the Weekly 50% level could support price over the next 5-days, resulting in a 5-day sideways pattern.
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