Jobs data comes out tonight, and this will either send the markets higher, as part of the continuation from last Friday’s lows and above the August 50% level.
Or reverse down towards 1106.
S&P Weekly and Daily range.
Reversal pattern below 1124.75 has seen the market moved down into the daily lows on Friday and find support.
As mentioned earlier in the Week, I was looking for that 1 day reversal down into support levels @ 1102 before the trend would most likely continue higher. That reversal pattern didn't occur until Today
I now have the view that price is following the same pattern as last week, whilst above 1116 the continuation of the trend towards the Weekly highs
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