DOW S&P Weekly
Last Week's trading was all about the direction Monday took in relation to the Weekly 50% level.
Monday sold off from higher Daily opens that aligned with the 5-day 50% level sending both markets down, but not down far enough in my books.
I had a minimum target of 8120 on the DOW, before a potential swing back towards the Weekly 50% levels
The current reversal trend from March lows to where price is now will be completely dependant on the July 50% level.
I have a view of much higher prices based on Primary trend, but if prices are below the July 50% levels then any UP trend is up to risk.
Traders should get an idea about the trend by simply using the Weekly 50% level as a trend guide after June ends.
Based on Friday's close and a Higher Weekly open next week, I would view that price should continue to rotate down into July's 50% levels that will be confirmed after the next 3-days of trading
DOW S&P monthlyAt this stage based on the current price action in the 2nd Quarter, and the position of the 3rd Quarter 50% levels, the view is to continue to move UP towards the July highs...
However, I'll get a clearer view of the market after another 5-day of trading and the end of next week.
Next Week's closing price should be able to validated the levels much better.
Until then, trade the probability patterns within the 5-day range set-ups
