Mr. B with the last post for awhile as I am heading out of the country for a nice trip.
The NYMO cycle is up.
It is dipping a little this morning, but otherwise is pretty healthy.
That said, a corrective move to the zero line would not surprise in the next few days.
The roll from the September to December ES contract is on deck, and it is not unusual for there to be a countertrend flush.
A downdraft to support around 2940 could do the trick.
Also this NYMO upcycle has been running 25 days now and can be considered mature.
Pricewise the index seems to be lackluster in this attempt to regain the ATH and close those open gaps above.
Perhaps a friendly central banker or tweeting president can inspire the bulls.
If the bulls can't find some mojo, the big ascending wedge (blue orange) could come into focus.
We're in the third push up, and this is unfolding within a possible big broadening formation.
I don't know what will happen, but these patterns are intriguing.
I am still long an SPX runner position with BE stop.
I also have an R2K long with one scale taken. I may take another scale (prematurely) and jam a stop before getting on a plane.
Given that I will be unavailable (but for maybe end of day checks) for a week and a half, the Fates may choose to initiate an important and tradeable market move while I am away.
This has happened enough over the years for me to be suspicious...