S&P Monthly and WeeklyExpectation that last week’s SET-UP B would continue with a 3-day rally into the highs and then begin to hit resistance levels once again.
As my previous report mentioned, upside target in the 4th Quarter is 1126, and we can see a shift in the weekly range towards those highs next week.
However, even though there is an expectation that price can continue towards 1126, that might not happen next week, as there is a possibility of another 5-day sideways pattern around these levels:- higher timeframe resistance.
The most robust pattern for any higher moves towards 1126 would be a choppy 5-day sideways pattern with the bias to drift down into the weekly 50% levels by next Friday...
And then continue higher the week after that using support.
