DOW S&P MonthlyUS markets closed on the last day of the month right on MAY high Resistance.
MAY high resistance has ended and now there is an expectation that price should continue up towards the June highs, as part of a larger trend rotation in 2009 towards the Yearly 50% levels
DOW 9842
S&P 1035
Even though I have a view of higher prices, I was hoping that MAY high resistance would send prices back down into the 50% levels, so that the next wave upwards would be driven up from lower Support:- more bang.
Instead we have a larger UP move clinging to the Monthly high ranges.
DOW Weekly US markets continue to be supported by the Weekly 50% level, and the same Weekly 50% level is the trend guide for next week, along with the 5-day pattern and probability set-ups.
DOW 5-day pattern
The only pattern last week that didn't play out that I wanted, was Wednesday's failure to reach the highs, as part of a short-term reversal back down into 50% levels.
The rest of the Week had some nice higher probability patterns play out as the market rotated and continued higher into Friday.
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