SET-UP A:- drifting lower below the Monthly 50% levels and following the dynamic timeframes lower, eventually pushing the market into lower lows in 2009.
There is nothing stopping SET UP A continuing lower in the first Quarter"
Previous Weekly report
DOW and S&P Monthly
US markets continue to follow SET-UP A:- with the January 50% level rejecting price and sending prices lower into Friday.
At this stage the only conclusion is for US markets and other global Markets to continue down...
DOW and S&P Weekly Friday's lower close below the Weekly 50% level set-ups further weakness next week.
Unless there is another Daily HOOK pattern over the Weekly 50% level early next week, I would expect US markets to follow the pattern down towards the Weekly lows, as part of the Monthly 50% level rejection pattern.
S&P 5-day patternIn the Premium Report this week there were some extremely nice trading set-ups for day and swing traders.
Tuesday's BUY support, but the most robust pattern was Wednesday 'Short' the break Support (yellow) with the view of price moving down into the Blue channels.
Thursday and Friday followed the 5-day filters precisely using the support set-ups to trade the daily trends.
I believe that during any given week there are only 2 high probability
set-ups, and it's those days that provide the best trades. The rest of the
week it is trying to minimise risk and stop over-trading.
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- Daily Trading Set-ups & Analysis
