As we expected SP500 rallied before July 4th. We still don’t have any swing signals. Based on cycles and seasonal indicators we can see a choppy trading coming week or two and formation of distribution with possible upthrust near 3200. If that happens, we can expect selloff. Price action confirmation and divergence with the advanced decline line needed. For now, that is general outlook based on cycles and seasonals
Comment:
Exactly as expected
