Expectation of a 2-day reversal at this stage doesn’t look like happen, as Monday should have remained below Friday’s highs.
Random resistance around the Weekly highs, which may end up resistance but remaining above Yellow support"
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S&P Weekly and 5-day pattern
First day reversal, but I’ll classify Monday’s trading as a 1-day stall pattern around the highs.
Even though my expectation is that these highs are resistance levels with an expectation of a reversal down, after last week’s breakout above 1133 that might not happen as it has changed the dynamics and the price action. (Weekly Report)
Tomorrow is the 2nd day, but if there was going to be further weakness this week, Monday should have closed below the 5-day 50% level.
At this stage it's to concentrate of the price action within the 5-day patterns and take chunks out of the ATR.
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