#1. Daily 50% level sends the market back down into the Daily and Weekly lows
# 2 Market remains within the Weekly levels, and continues back towards the daily highs
S&P Weekly and Daily range.
My initial view was for the market to continue down using the Daily 50% level as resistance
However, when the market was still trading above 1184.74 and closing above the 50% level when the cash market opened, the trend bias was for Thursday to swing back towards the highs….
And most likely continue higher on Friday.
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