However, the Weekly 50% level can act as support @ 1404
S&P Weekly and Daily cycles.
After reading last weekend's Weekly report, I was extremely bearish for a swift downward move this week
Monday's price action provided the ideal set-up, with 1415 providing resistance, but for the downward move to continue Tuesday had to close on its lows.
Instead the Weekly 50% level @ 1404 provided a random support level.
That downward move could still occur, but odds of that now happening is less likely..
and there is the possibility that price is now following #B.
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