Closing Brief

A choppy day, where the micro-cycles are now arguably close to being fully reset for some more serious downside across the rest of the week. I am indeed already looking ahead to Wednesday. We have some significant econ-data in the morning that should remind Mr Market of recessionary trouble ahead.

Holding to all main targets. The second half of yesterday and today, is very much of a similar style to last Friday, and Monday turned out kinda good for the bears ;)

Those closing hourly index cycles...


IWM (representing rus'2000 small cap)

Dow

Sp

*I am very uncertain of the micro-count right now, not that it matters for those looking at the bigger picture.


Summary

Bears failed to close below the hourly 10MA, which is not such a great thing, but the daily cycles are VERY bearish for Wednesday...more on that later. Tomorrow should be a good day for the bears.

More across the evening,