Mr. B reporting in.
The NYMO cycle is down.
We have made lower highs and lower lows dwelling below the zero line.
What it does going forward is unknowable.
Price has cleared a few down gaps and opened some new up gaps.
We now have more up then down gaps for the year.
Price, at the moment, is in a gap sandwich with fair distance to the next gap in either direction.
The 50 MA and middle keltner are not far below this morning's low.
It is common for break downs from the upper keltner to go visit the middle.
So, some odds are there for some more downside, but I don't know what will happen.
I am short SPX. Two profit units have been scaled out, and this is now a runner with a breakeven stop.
It all happened very fast since yesterday's close.
I am flat R2K. A short setup on deck was disengaged by relatively supportive price action the last few days.
Not sure what that means going forward.