Based on current patterns my view is to move back down into the Daily lows.
S&P Weekly and Daily range.
With price trading below 1094.50 and outside the channels in the daily range @ 1096.50, I only had one view and that was to continue down into the daily lows :- support.
1096.50 provided a 4.25 resistance pattern but without the follow through.
Instead Wednesday closed above 1094.50-1096.50 and formed a support pattern.
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