If we get a negative NYMO close today, the cycle flips from up to down.
We have a lower high lower low pattern and two negative closes in the works.
Price has been consolidating for almost three weeks.
The bottom edge of an ascending wedge has been back tested after the break.
Gaps in the consolidation have been getting closed.
A move to close the gap at SPX 3197.52 would likely trigger a mass of stops.
So, Bears have conditions for a play around here.
That said, consolidations can break either way.
I am still long a little R2K at the moment.
I may go flat for the weekend on a discretionary basis.
No short setups at the moment but maybe next week.