Good afternoon gentlemen: We outlined a relatively neutral MKT schematic indicating a rotational MKT structure based upon TIME, location of price and contraction of VOL metrics-
Today’s DMP reading (1.40/1.53) is getting stronger into tomorrow- this means the MKT’s algorithmic signal configuration is VERY supportive of the current trend structure and is likely to maintain its technical trend.
As such we think the SPX/MKT is likely to hold S1@2707- and likely to trade higher from there. Additionally, were updating out TIME line to the end of MAY starting 5.28.18- before were seeing any “Major” Sell signals that are likely to disrupt the trend structure in any meaningful way.
As such, the model turns bullish once again starting tomorrow based upon new BUY signals within the intermediate/minor cycles.
-The attached 288 min schematic outlines how this might play out into early June-
Chief Technical Strategist / DCH-DTA