Normal
US Markets opened much higher, and the price action followed the drops resulting in a large trending down day back into the 3-day lows.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 still need to be verified, and that normally comes from a break of the 3-day lows, which it did, but price action still remains trading just above the 3-day lows.If Friday is trading below those 3-day lows, let the market run its course, hopefully into the 3-week 50% level, and then look for a rotation upwards next week after the change of ‘cycle’ :- short-term 1-2day reversal before it decides it's direction for October based on next weeks 50% level.
US Markets opened much higher, and the price action followed the drops resulting in a large trending down day back into the 3-day lows.
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 still need to be verified, and that normally comes from a break of the 3-day lows, which it did, but price action still remains trading just above the 3-day lows.
If Friday is trading below those 3-day lows, let the market run its course, hopefully into the 3-week 50% level, and then look for a rotation upwards next week after the change of ‘cycle’ :- short-term 1-2day reversal before it decides it's direction for October based on next weeks 50% level.
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