And confirmed with a 5-day break
Retest of the 5-day 50% level on Tuesday should continue down, but that will depend on the support levels on Wednesday"
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S&P Weekly and 5-day pattern
I've been bearish all week because of last Friday's price action and expectation that US markets would sell down this week.
However, the continuation down was dependant on the 5-day 50% level (Retest & Reject) on the day after Monday's lows had broken.
If Tuesday didn't move down, then Wednesday should have continued down and not swing up from Support levels and close back above the 5-day 50% level.
At this stage the entire Weekly 'sell' pattern into a lower Friday close is now less likely.
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