Random support @ 1354 (4.25 to 8.5 points)
S&P Weekly and Daily range…Tuesday’s trading was based on a 2nd day reversal pattern to start the week, and whether the Weekly level @ 1347 would hold support, or break and continue lower
However, the first trade during globex hours was using intra-day support @ 1354, which resulted in a precise 4.25 point rise, but then a failure to move 8.5 points into resistance levels.
As we can see, the Weekly level has supported the current trend, and this could result in the next 3-days trying to move back towards the highs…..
Unless there’s further selling during globex hours
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