bound between 1117 & 1092 until Friday"
S&P Weekly and Daily range
Wednesday has continued to drift down as part of the 2-3 day consolidating pattern after reaching the Weekly highs
Whilst the market remains above 1099 the bias is to continue higher,
and those weekly highs have less probability of resistance by Friday.
However, if the market struggles over the next 3-days and drifts down towards
1092 by Friday, then the August 50% level becomes the trend guide during the 3rd-Quarter
At this stage I don't have a long term view of the market, and I'm treating
each weekly timeframe as short-term 2 & 3 days patterns until the start of August.
Price is now trading around 1099, which is the critical level for the 3rd quarter.
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