S&P futures pushed up to 2762 early in the day with a gain of 17 points from yesterday's close and then started to show weakness dropping to 2748. A new uptrend attempt took futures back to 2760 finally dropping to 2749 into the close. The wave structure for this uptrend move from 12/24/2018 looks almost complete reaching around the time frame that cycles expected to. Anticipating weakness to continue further. There is a possibility to see one more up move (v of 5) but looks like a lower probability.
Tomorrow, a number of economic news come out. At 8:30 am, jobless claims, PPI, retail sales data is released, business inventories at 10:00 am, fed balance sheet and money supply at 4:30 pm.
US Dollar index resumed its advance to 96.99 after a brief pause yesterday. Should continue the uptrend.
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| S&P wave count for move from 12/24/2018 |