S&P Weekly and SPI weekly
Thrust patterns in the 3rd Quarter have seen markets rally into their July highs without any short-term pullbacks.
S&P 500 974
SPI 4120
Precise tops in both markets, along with a 'Stalling pattern' around a higher Weekly close and July's highs, with next week's open the trend guide on any short term reversal pattern
Currently there are 5-day breakouts in both markets on Thursday, so it's a bit early to tell whether Friday will reverse down or Friday closes near those highs.
There is still a view of higher prices in the 3rd Quarter, and July's highs will dynamically move upwards in August.
We are due for a short-term pullback into the Weekly 50% levels, but I
have seen 'Thrust' patterns before and they are what they are:-
Trending patterns.
Dilernia Principles:- all trends originate from 50% levels and extend outward.
All trends end around support or resistance and rotate inward
Currently there is a Primary Trend that's rotating inward:- 1037 & 4400
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