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US markets are still trading above their September highs : - ES 1468 & DOW 14124.

ES continued with an UP bias and small trading range, whilst the DOW rotated back down into the 3-day lows.

The interesting part of this price action is both markets have now ‘drops’ in the forward weekly timeframe, which suggests further weakness into Friday:- normally a rotation back down into the 3-week 50% levels.

However, things need to be verified, and that normally comes from a break of the 3-day lows, Or in this case Wednesday’s lows on the DOW.

This is the first time in a long time in US markets that there has been any forward 'drops', and it's something to keep and eye on, even though the trend remains UP and still confirmed by the 3-day cycles, along with the expectation price is following the October extremes.

However 'drops' are forming the view that momentum can quickly change, but price action needs to be verified

<blockquote data-quote="Frank D" data-source="post: 210918" data-attributes="member: 4896">US markets are still trading above their September highs : - ES 1468 &amp; DOW 14124.ES continued with an UP bias and small trading range, whilst the DOW rotated back down into the 3-day lows. The interesting part of this price action is both markets have now ‘drops’ in the forward weekly timeframe, which suggests further weakness into Friday:- normally a rotation back down into the 3-week 50% levels.However, things need to be verified, and that normally comes from a break of the 3-day lows, Or in this case Wednesday’s lows on the DOW.&nbsp;This is the first time in a long time in US markets that there has been any forward &#039;drops&#039;, and it&#039;s something to keep and eye on, even though the trend remains UP and still confirmed by the 3-day cycles, along with the expectation price is following the October extremes.However &#039;drops&#039; are forming the view that momentum can quickly change, but price action needs to be verified</blockquote>

[QUOTE="Frank D, post: 210918, member: 4896"] US markets are still trading above their September highs : - ES 1468 & DOW 14124. ES continued with an UP bias and small trading range, whilst the DOW rotated back down into the 3-day lows. The interesting part of this price action is both markets have now ‘drops’ in the forward weekly timeframe, which suggests further weakness into Friday:- normally a rotation back down into the 3-week 50% levels. However, things need to be verified, and that normally comes from a break of the 3-day lows, Or in this case Wednesday’s lows on the DOW. This is the first time in a long time in US markets that there has been any forward 'drops', and it's something to keep and eye on, even though the trend remains UP and still confirmed by the 3-day cycles, along with the expectation price is following the October extremes. However 'drops' are forming the view that momentum can quickly change, but price action needs to be verified [/QUOTE]

Verification