S&P Weekly"Drive down into June's lows has the July lows pushing lower, with the likely target 969 (Yearly 50%). Support will need to be verified with a 5-day high breakout & above the Weekly 50% level for a swing back towards the monthly 50% levels @ 1099...... Previous Weekly Report
Expectation that Price would continue down into July's lows failed to materialise, but the price action to verify the reversal pattern played out....
5-day high breakout (white).... and price is trading above the Weekly 50% level with the trend swinging back towards the monthly 50% levels July
Next Week's trend guide is the Weekly 50% level.
S&P monthlyThe pattern for the most robust swing trade was to see the market move down into July's lows and then continue towards 1099...
Based on the current market dynamics I'm treating this Quarter as a sideways 3-month pattern between 1099 and the Monthly lows.
