Expectation that the breakout from the Weekly lows is moving down towards a first target of 1229.75 this week.
S&P Weekly and Daily range.
Early resistance @ 1272 providing a 8.5 point reversal, but a failure to continue down into the lows.
Thursday’s choppy trading of 8.5 point rotations has resulted in an inside day.
Because of the breakout pattern, I still have the view that the S&P is trying to move down towards 1229.75
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