Looking for a down day towards the Daily lows.
S&P Weekly and Daily range
I was looking for the S&P to continue down towards a lower daily close because of the price action over the past 2-days.
Wednesday has closed below the 3-day cycle lows, changing the pattern into a ‘sell cycle’
Thursday moved into a 1-day counter-trend move using the set-up B pattern, as described yesterday.
Because of these two patterns, my view was the Friday would continue down.
Instead we got resistance @ 1241, but a failure to follow through on the down side.
Weekly report out later.
- Daily Trading Set-ups & Analysis
Posts
