The Nasdaq broke yesterday's low, and the S&P 500 broke under 889. As I've tweeted today, the setup is looking bearish. So whatever we might see in cycles timing, from where I'm sitting I'm comfortable holding with my swing shorts I moved into yesterday.
Failure to get back above 889 is clearly a continuing bearish signal. If above that, then look again to the levels I posted this morning. But if the SPX goes under yesterday's lows - as the NDX already did - then we may already be continuing the third wave down. Targets for that are much lower, as I showed in my posts here this weekend (and Andre Gratian, as well as Tony Caldaro, each have their own targets they've discussed as well).
Will post more later in the afternoon, but this seems worth pointing out now. If you want to see my tweets, they feed to my UBTNB3 site (link at right).
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