The NYMO cycle remains up.
It has been steadily climbing above the zero line in small increments.
It seems to be moving like the little engine that could, which is to say that it is straining to climb the hill but is managing to get the job done.
While a corrective move down to the zero line would be normal, this thing could simply exhaust itself and turn.
Price has been making some upward progress as well.
The last up gap target is less than 10 handles above this morning's high.
The last days of October are generally supportive of equity prices, so bulls have a shot at that target.
On the other hand we are back to 10 open gaps below. At least a few of those will get closed in due course.
I have some data suggesting some vulnerability ahead, but nothing is actionable for me until price turns.
The upper and lower keltner bands are closing.
Narrowing bands can set the stage for a nice tradeable move.
Whichever band (top or bottom) gets tagged first should set a bias.
I still have an SPX runner position and a core R2K position.
Since last post, I scaled out a profit unit in R2K. Would like to scale out one more before leaving a runner.