DOW S&P monthlyWith this week's failure to close above the August highs....
In my opinion next week will begin a slide back towards the July breakout levels over the next few weeks.
DOW S&P Daily charts
Monday and maybe Tuesday could remain range bound in the same range, but I'll begin to look for a continuation down towards the Weekly 50% level.
Of course certain 5-day pattern set-ups should be used for any down moves next week.
At this stage I haven't factored more upside in August even though I think markets will move higher and complete their Yearly 50% levels later on.
If markets are going higher it will be dependant on Market dynamics for September and their range, which are currently matching the Yearly 50% levels.
