DOW MonthlyExpectation that US market should complete the double Monthly low pattern around February's lows.
Once that occurs I'll be looking for a reversal back into the March 50% level, and then look for any sign of a continuation upwards.
As pointed out a couple of weeks ago, once price has finally hit the February lows, I'm looking for a 25-30% swing upwards, but then continue lower in the following Quarters.
S&P WeeklyHigher weekly open and reversal back down, and should continue lower the next 2 weeks.
Even though the S&P had closed above the monthly 50% level last Friday:- Hook pattern and higher Weekly close....
I wasn't convinced the market would go higher.
Once below the February 50% level price continued the downtrend into the Weekly lows.
S&P 5-day pattern
"Any down trend and reversal within the Weekly timeframe won't be confirmed until price has broken the 5-day filter (blue channel)"
Monday continued higher, but once Tuesday broke the 5-day filter @ 845, then the reversal pattern was verified, and the rest is history.
And I'm expecting lower prices to continue next week.
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