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S&P Weekly and 5-day pattern:

"Monday is all about support, and the S&P will be opening right on
support (at this stage).

Because Sunday is the first day of the breakout of the Yellow channel,
then Monday has an expectation that there is going to be a 2nd down day.

Often a 2nd down day aligns with the 5-day 50% level.

If this is the case, then there could be early support on US markets into the
5-day 50% levels, but I'd be surprised to see higher prices...:- 50%
level rejection.

Below support and it's a random length, but markets are coming down towards September's lows":- Premium Report

~~~~~~~~~~~~~~~~~~~

S&P was bang on the money on Monday.

Rising up from support and back into the 5-day 50% level, and then a continuation down on Monday, as part of the 2nd day sell.

S&P is now starting to get down to my 2008 yearly low target of 1158-73.

These levels are what I wanted to see reached before any 3-month counter-trend UP move begins, which will be verified in the next Quarter.

After any 3-month UP move in the Next Quarter, as mentioned numerous times before, Markets will be going lower in 2009.

<blockquote data-quote="Frank D" data-source="post: 335982" data-attributes="member: 4896">S&amp;P Weekly and 5-day pattern:&quot;Monday is all about support, and the S&amp;P will be opening right on support (at this stage).Because Sunday is the first day of the breakout of the Yellow channel, then Monday has an expectation that there is going to be a 2nd down day.Often a 2nd down day aligns with the 5-day 50% level.If this is the case, then there could be early support on US markets into the&nbsp;5-day 50% levels, but I&#039;d be surprised to see higher prices...:- 50% level rejection.Below support and it&#039;s a random length, but markets are coming down towards September&#039;s lows&quot;:- Premium Report~~~~~~~~~~~~~~~~~~~S&amp;P was bang on the money on Monday.Rising up from support and back into the 5-day 50% level, and then a continuation down on Monday, as part of the 2nd day sell.S&amp;P is now starting to get down to my 2008 yearly low target of 1158-73.These levels are what I wanted to see reached before any 3-month counter-trend UP move begins, which will be verified in the next Quarter.After any 3-month UP move in the Next Quarter, as mentioned numerous times before, Markets will be going lower in 2009.</blockquote>

[QUOTE="Frank D, post: 335982, member: 4896"] [B]S&P Weekly and 5-day pattern:[/B] [I]"Monday is all about support, and the S&P will be opening right on support (at this stage). Because Sunday is the first day of the breakout of the Yellow channel, then Monday has an expectation that there is going to be a 2nd down day. Often a 2nd down day aligns with the 5-day 50% level. If this is the case, then there could be early support on US markets into the 5-day 50% levels, but I'd be surprised to see higher prices...:- 50% level rejection. Below support and it's a random length, but markets are coming down towards September's lows"[/I]:- [B]Premium Report[/B] ~~~~~~~~~~~~~~~~~~~ S&P was bang on the money on Monday. Rising up from support and back into the 5-day 50% level, and then a continuation down on Monday, as part of the 2nd day sell. S&P is now starting to get down to my 2008 yearly low target of 1158-73. These levels are what I wanted to see reached before any 3-month counter-trend UP move begins, which will be verified in the next Quarter. After any 3-month UP move in the Next Quarter, as mentioned numerous times before, [B]Markets will be going lower in 2009.[/B] [/QUOTE]

Verification