Yesterday I mentioned that there could be a flat day until the Yellow support catches up with price on Wednesday.
That level have caught up and 1128.75 is the trend guide for Wednesday"
S&P Weekly and 5-day pattern.
There is a bias to continue towards the January highs, but at this stage I’m not sure if that happens this week, or the price action follows my Weekly report: - Weekly highs resistance and then continues higher the week after.
However, based on Wednesday’s trading I suspect it will be this week.
Normally, a 2-day rise into resistance can have a down day when the Yellow filter catches up:- 3rd day down in an UP trend.
Broke support @ 1128.75, but no follow through on the downside towards 1120.
Instead following the 5-day pattern into the highs once again.
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