There are conflicting patterns, normally I would favour a down day based on the patterns in the 5-day range, however the pattern in the weekly timeframe usually continues higher from the Weekly 50% level"
S&P Weekly and daily range
Early support during globex hours using the Weekly 50% level, but the daily breakout on Tuesday can often move lower on Wednesday, which was the case.
8.5 point rise upwards from Wednesday’s lows, but then a drift back down into the daily lows to close out the day.
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