DOW S&P MonthlyAs per Monthly rejection patterns:- expectation that US markets are heading down towards theJanuary's lows, and then will continue down further into February's lows.
This follows my view of global markets making lower lows in 2009.....
DOW and S&P WeeklyOf course that changes in the short-term if US markets move back above their Weekly 50% levels.
But until that happens, I would continue to look for the next 5-day pattern to follow the trend down into Next week's Weekly lows.
Of course not every day is a down day, but the bias is to follow the move lower, simply based on the higher timeframe Monthly rejecton patterns.
If and when there is a Daily 'Hook' pattern over the Weekly 50%, which more often occurs in the 4th Week (next week is the 3rd week), then I can't see too much upside just yet.
Day-traders simply follow the 5-day pattern set-ups found in the Premium Report
- Daily Trading Set-ups & Analysis
