There is a higher Weekly open and trading below the September highs @ 1062.
If there was ever a reason for this week to reverse down then this pattern should provide that.
However, I'm not sure that's going to be the case in the first two days because of Friday's close above the 3-week channel highs @ 1055, which might see another push up towards the 5-day highs again in the first 2 days"
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S&P Weekly and 5-day pattern
Monday started with the usual higher Weekly open and sell pattern, helped by higher timeframe levels:- resistance.
However, because of last week's close above 1055, I didn't think markets would close lower on Monday.
The push down and higher close above support in the 5-day pattern can see price around the 5-days highs once again on Tuesday, if price is above 1062.
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