DOW S&P MonthlyUS markets are trading around the higher timeframe 50% levels.
It's not rising up from support levels, and Friday's price action has failed to make a clean break.
Based on the current price action I would have to treat next week as another consolidating 5-day pattern.
Another Week will bring the 3-week highs down and will match the the recent highs from 2-weeks ago.
If US markets are going to move higher then it will break out of the 3-week highs and see further gains in March.
If US markets are going to go lower, then once the 3-week highs catch up, the trend will push down towards the 3-Quarterly 50% level in March.
DOW S&P WeeklyLast week I expected a 2-day counter-trend move up into resistance levels.
Once Wednesday failed to continue down it looked like this week was going to be a 5-day sideways pattern with the potential of a late rise on Friday.
However, Friday failed to break key levels.
Therefore I'm treating next week as another sideways price pattern, and resistance on the S&P at 1087.
And the Weekly highs are resistance if there is a push upwards next week if the weekly 50% levels holds support.
