DOW S&P Monthly
MAY highs resistance with the expectation that price is trying to push down into the 50% levels before it continues higher in the 3rd Quarter.
However, with 1 week left in the month of MAY, prices look like moving up towards the JUNE highs, than actually reversing all the way down.
DOW Weekly"A lower Weekly open and trading around the Weekly 50% level might see a 2-3 day UP move before another push down later next week."... Previous Weekly Report
This week saw US markets rise up on Monday from Weekly 50% level support back into the MAY highs , and then slipping back down later in the Week.
Next Week:- If US markets are going to continue down, then price needs the break and close below those Weekly 50% levels , and then continue down towards 7936
DOW 5-day patternMonday started the UP move and continued to the highs, and then Tuesday and Wednesday followed a 2-day stalling pattern around each dynamic high.
Thursday was a mixed pattern, as it could have gone either way based on trading either side of the 50% level.
And Friday was part of a sell pattern using the 50% level as resistance.
The 5-day pattern range between the levels should have provided enough trading opportunities this week if traders simply used the levels as Support or resistance on each given day.
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