Interesting the S&P500 2360 zone is a bit pivotal being the...

Interesting the S&P500 2360 zone is a bit pivotal being the 38.2% retrace area after the drop down.

Looking like a weekly sell may generate soon so the next week or so should see that move down to the 2280 ish area which is the 38.2% retrace from the big move up.

What that means for our market is sketchy as it's been doing it's own thing - but if US falls in the next week and takes oil with it we could see mid 5650's, though that seems way away.

Too dangerous to short with the PPT rescuing markets, but if it S&P500 does get to it's retrace zone of 2280 then you'd be looking to go long and ride the rescue mission

On a monthly chart the fractal energy certainly is very stretched and needs time to re-energise for the next big leg up which always incurs some sort of retrace. Could overshoot back to the 50% fib level below 2280 if selling intensifies.

Random thoughts