Technically, the NYMO cycle is up, but it has potential to be a bull trap.
We have three closes above the zero line but only just above.
This morning's reversal is looking severe enough to suggest that the up move was corrective rather than the start of a trend.
Time will tell.
We have three open up gaps as of today and a bunch of downs.
We closed one down gap, and it looks like another may be on deck at SPX 4354.19.
Bears want to tag the lower keltner band and close the gap at SPX 4258.49 to change the character of the market.
I remain short and SPX runner position with a breakeven stop.
I am flat R2K as my runner was BE stopped.
I have some long setups that look like they will get cancelled today.