And these current Weekly highs @ 1112 can resist price and push the market back down into a consolidation pattern:- 2-day reversal
Therefore this might result in Wednesday's higher open (weekly highs) and continue down into the 5-day 50% levels, as these levels are first support zones on Wednesday".
S&P Weekly and 5-day pattern
Resistance around the Weekly highs on Wednesday but without the follow through and continuation down into the support levels in the 5-day range.
Wednesday becomes the first day reversal pattern, and while price is below the Weekly highs Thursday should be part of a 2nd day reversal (random length)
Keeping in mind that there is an expectation that price is still trying to move towards 1126 in December.
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