Good morning : todays DMS is just barely neutral based upon the S/T signals within the intermediate/minor cycle- The TIME cycle profile indicates the SPX/MKT could be prone to a S/T- pull-back based upon its position in price relative to TIME-
This isn’t a “Major Sell signal” however- we could see yet another move towards FV- within the context of a rotational MKT structure over the next few days…
SPX R1=2740-43-MKT will most likely hold this level- Big weekly pivot.
SPX R2=2750-Would lean on the MKT heavily here on short side.
SPX S1=2704-06- SPX/MKT could pull back to this level and still be considered trading within an UP trend. * Our expectation TGT 1-
Traders/PM’s are advised to limit their UP side expectations over the next 1-2 days as the TIME cycle profile indicates some TIME resistance which could put a lid on things in S/T- and set up perhaps a brief S/T disruption within the intermediate/minor cycles- (1-3 days)-
*For those interested- TSLA is firing a BUY today…
Chief Technical Strategist / DCH-DTA