ALL EYES ON 1950 on SP.
Notice the short signal from last yr. till that turns, sell every bounce.
This down trending channel trend line ideally will cap every bounce from here on. Only a close above delays again, it’s pivotal.
2037 X 2 – 2118 = 1956
Expecting markets to become unchanged by US open and gold higher by then, gold is already confirming break out from the congested 1300-1320 zone, a move above 1342 confirms it and 1367 above closing, brings in a new bull.
India to possibly also ease off into its close as its options expiry and roll over session today.
Once SPX turns negative by 5pts or Dow lower than 35-50 pts today, confirmation will be provided, that a short term peak is in place and a move down below 2005 SPX confirms that a move towards 1950 is underway.
Even if the mkt closes here or 2010 region. Bears are still winning, only those longs will worry on Friday.
Tomorrows closing will be well watched as its the second qtr closing, we need to give good looking reports to all those pension funds type of money, don’t we?
Watch dollar yen breaking lower than 102 for direction and bias.