S&P Monthly and WeeklyLast Week saw the Weekly 50% level support price and push upwards into a higher Friday close, which also closed above the 3-week cycles.
This pattern is bullish and confirms my view of higher prices in February, with next week's target the Weekly highs.
However, Friday stalled below the highs on Friday, which often leads to a 2-day reversal at the start of the week.
That can be a reversal down into Tuesday's 5-day lows
or it can be a 2-day stall and then a continuation upwards from the brown Weekly 50% level.
Personally I would like to see a move down into Tuesday's lows because then there are more gains on the upside.
