BachNut Friday afternoon edition...
NYMO cycle is still down.
However, the low was a few days ago and landed in the Turn Zone.
Maybe the low is in but NYMO is still weak.
Price has closed some gaps and has tagged the middle keltner and 50 MA.
We are in a gap sandwich between SPX 3426.96 and 3306.51.
Got close to that lower gap, but did not close the deal... yet.
There is also a positive NYMO divergence where price has hit new lows, but NYMO has not.
So, maybe a bounce on deck soon.
I am still short an R2K runner.
I shorted SPX for 2 scales. The runner got stopped the other day at breakeven.
I may consider reloading on a rally but have to see what happens.