The 5 day and 2 day cycles on the SP futures appear poised to head down after weak, sideways up phases. That’s usually a powerful, bearish combo. A 2 day cycle low is not due until tomorrow. A 5 day cycle theoretical low isn’t due until next Tuesday.
The spoos are trading at 1243, right at the 2 day cycle lower inner cycle line. The next support would be the first lower inner 5 day cycle line now around 1236. If they bounce instead, the next resistance would be the converging 2 day and 5 day cycle centerlines now at approximately 1248. If either support or resistance breaks, the next support or resistance lines would be about 5 points away. Both 2 and 5 day cycle indicators are currently on the sell side.
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Gold also appears to be turning down, with similar timing.
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