12pm update - minor down cycle

The sp' has seemingly maxed out at 1644, at least for a few hours. Daily charts are offering the 1660s later this week, and with mid-sized QEs on Tue/Wed, bears are facing persistent problems.


sp'15min

sp'weekly8

Summary

Small scale cycle...clearly looks toppy, and the indexes might even go briefly red this afternoon, but I don't expect <1630 at the close.
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Weekly charts are sporting the second green candle now, and the 1660/70s look very viable this July.

For me, the only issue now is whether sp'1700s are hit before July ends.
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Video bonus...macro-econ chat...from Gordon T Long



I've not even watched yet, but I'm sure its worth viewing, when you have the time.

Time for lunch !