DOW Weekly Cash...This Week US markets finally close above their Weekly cycle highs, and are following the B set-up towards the April-June highs @ 13275......
Two weeks ago I mentioned that for Markets to go UP the expectation was that there had to be a Weekly 5-day pattern down.Last Week was a lower weekly open rising higher into the higher Weekly close. (Friday bottom- to-top)
For US markets to continue higher, then I would firsly look for rotation back down. There has been a break of the 3-day highs last week without a 2 day pullback, therefore I would look for this to happen before markets can continue higher.
A:- reversal down early next week before continuing higher into Friday
B:- continuation upwards into the Weekly highs, then a reversal down, which would probably have another Weekly timeframe closing near its lows on Friday...
S&P cashClose above the Weekly cycles confirms the lows are in with the expectation markets are pushing upwards into 1439...
S&P Weekly and Daily FuturesFor US markets to continue higher, I would look for a rotation back down before heading higher.
Otherwise if prices continue higher early next week into the Weekly highs, then I would look for a rotation back down towards the April 50% levels once again.
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DOW 5-day patterns
