SPY/QQQ Plan Your Trade For 10-4 :Up-Down-Up Pattern (Counter)

Oct 4

Today's pattern is an Up-Down-Up in Counter Trend mode. Thus, I expect to see and Dn-Up-Dn pattern today.

This pattern reflects today and the previous two days - as Down - Up - Down in range.

Overall, I expect today to be rather muted in terms of total range. Price should stay muted, sideways and drift downward overall.

Additionally, I believe the markets will be attempting to settle into support headed into dual base/bottom/momentum rally patterns setting up this weekend. I believe these patterns reflect a momentum shift that will launch the markets upward next week.

Gold and Silver will melt-upward today - likely attempt to settle the week near weekly highs.

BTCUSD is struggling to start forming a base near the 59k-20k levels. It will likely take 4-5 days for BTCUSD to actually build enough momentum to roll out of this basing pattern.

So, today is a day to prepare for the weekend and for next week's trading activity.

Sit back and take it easy today as price settles into the weekend's shifting momentum.

Get some.

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