DOW S&P MonthlyUS markets have followed the Trend reversal from the Mnothly 50% level and into the Month highs.
These highs are the first resistance levels in MAY since both reversing from the MARCH lows...
Expectation is that US markets should begin to slowly unwind and move back down into support levels and the Monthly 50% levels....
S&P MonthlyI want markets to come back down and retest support in MAY, because there is a larger cycle in play based on the Primary Trend.
Since US markets have found their Yearly lows in 2009, the rotation pattern in global markets is to rotate back towards the Yearly 50% levels.
In the case of the S&P 1037
DOW monthlyYearly 50% level 9872
Therefore there is a larger trend in play, as long as price remains stable above the Monthly 50% levels.
The ideal pattern in to get some resistance around these MAY highs and move back down into support later this month.
If that plays out, then it allows traders to move back into positions to capture any higher moves in the 3rd Quarter
DOW 5-day patternDay trader simply trade the rotation and extension within the 5-day patterns
- Daily Trading Set-ups & Analysis
