I now have the view that the market is moving towards a lower Friday close, after yesterday's failure of the previous Weekly low @ 1037.50"
S&P Weekly and Daily
S&P rallied on Wednesday and is now trading above the Weekly 50% level.
I wasn't expecting that to happen so soon without the S&P at least reaching 998.50 (Red) before the first potential swing back towards the Weekly 50% level.
Unless globex moves down and Thursday opens below the Weekly 50% level, the bias is to follow the daily range upwards.
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