S&P 500
Last week started with the short-term counter trend move upwards (2-3 days) and then the trend continued down into the Weekly lows.
Expectation that price is heading down into the February lows, with matching Weekly lows.
There are two possible patterns for next week...
1. Continues down on Monday and Tuesday to complete the February lows.
2. My preferred pattern is....
A move upwards into the 50% levels in February and then a blow off bottom into February targets.
This will complete my move for the first quarter from the highs in January and into support levels in February, and I would like to guess that the first Quarter will stabilise and move into consolidating pattern.
