The NYMO cycle is DOWN.
We have a nasty saw tooth pattern of lower highs and lower lows.
Pricewise, we have three gaps above and none below other than stranded gaps from last year.
The 200MA, middle keltner band and a declining tops line are all converging around SPX 4450-4500.
As we now have a failed test of the 200MA, this area may serve as resistance going forward.
I am flat. My short runners were profit/breakeven stopped in Friday's rally.
I am going to stop trading this NYMO model for awhile here.
High volatility and high uncertainty event flow appears to be moving price beyond the statistical tolerances of the setups.
Follow-through trades in a noisy, volatile trend can get chopped up. I think shorter time frame, support/resistance entries may be more suitable to this environment.
We shall see.