sp'weekly1b
sp'monthly1b
Summary
Suffice to add, a new cycle high of sp'2024, although VIX did not confirm, having remained positive across the day.
The bigger issue remains whether the equity bulls can turn the bigger weekly/monthly cycles.
From a bearish perspective, I'd like to see a close at least under the monthly 10MA, and really under the sp'2K threshold.
The daily cycles are somewhat suggestive that we should see the 50dma tested before end month.. and that is currently in the 1950s.
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Looking ahead
Tuesday will see PPI, retail sales, empire state, bus' invent', housing market index
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Goodnight from London