As we indicated on the weekend with the 5.5 day cycle turning down on Monday we might get a pullback. We actually expected a green open Monday (didn't get that) and a pullback in the last half of the day. So maybe the 5.5 day cycle will bottom by midday tomorrow. In any case - it should bottom by the end of the day. This will reduce down side pressure Thu/Fri....
Still the 22 day cycle and 34 day cycle will be down thru the end of the week. The 45 day cycle is up. So Thu/Fri should be a battle between the 5.5 day cycle plus the 45 day cycle and the 22 day cycle plus the 34 day cycle. Uncertain which of the shorter cycles will prevail - my guess is we end the last 2 days of the week without much progress up or down. If there is a tie breaker it is the longer cycles (which are up) and we move up some the last 2 days of the week.
Here is the SPY (which I use as a market proxy):
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