Potential pattern is to rise up into Tuesday’s highs and rotate back down into the daily 50% level @ 1239.50
S&P Weekly and Daily range
Tuesday continued up into resistance levels, but failed to follow a short-term reversal pattern back down into the daily 50% level.
S&P is now completing the break and extend pattern from the October highs @ 1174 into the December highs @ 1249.50
DOW is following the same pattern, but slightly lagging which may result in the S&P hanging around these highs for the rest of the week.
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