we start reviewing today’s pattern, and the following was expected:
Monday’s pattern is for the most of the times a trading day with an early high (around 10 am) followed by a decline to a low at around 12pm then a rally to a lower high at closing bell.
Below is SPX 5 min. chart for today and as we see we had a high after 10:30 am a low at exactly 12pm so we rallied from that 12pm low to a high of the day at around 14:30 then we closed to a lower high: 👍👍👍
Expected trading pattern for SPX, Tuesday, April 30th
Tuesday pattern is expected to be the one with an early high at around 10 am followed by a decline to a low at around 10:30/11 am so a rally to 11.30/12.
From 11:30 we see a decline to a low at 13:30.
From 13:30 low we have 2 options:
1) rally into closing bell
2) continue the decline into closing bell.
Trade well ;o
Here follows some similar 5 min. chart pattern for SPX: