Set-up:- moves down into 1087.50 and then a higher daily close"
S&P weekly and Daily range.
With Thursday’s breakout of the daily highs I would normally have the expectation that the trend would continue higher on Friday completing the move into the Weekly 50% level and Daily highs @ 1113
The most robust pattern for Friday was a move down and then a rise upwards into a higher daily close.
That scenario half played out, with price visiting support and then moving upwards 8.5 points, but failing to continue into the highs instead closing on support.
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