US equities continue to cool, with the sp -19pts @ 1919. Equity bulls should get concerned on any break <1914, but that still seems unlikely. With a Fed Beige book at 2pm, there remains high threat of yet another latter day recovery, and right now.. that still seems far more probable than the 1901 low being broken this week.
*an interesting movie trailer just caught my attention... it merits an entire post... but I'll save that for AH.
So.. we're still sliding, but the smaller 5/15min cycles bode for an afternoon recovery.
The daily MACD equity cycle remains so low, and from a bearish perspective, it looks like a lousy entry to attempt to chase lower.