Slightly weak day - S&P futures closed lower at 2812 compared to yesterday's close of 2821. Both weekly and short term cycles are up trending and expecting higher prices tomorrow.
US Dollar Index futures closed higher today at 96.74 - yesterday's close was 96.42. While the weekly counter trend cycle is still up trending, daily cycles are down trending. Expecting dollar to consolidate and be weak for next couple of days.
On economic front, jobless claims came higher today at 229K. New home sales (typically volatile) came at 607K down -6.9% m/m. Federal reserve balance sheet increased slightly by $2.4B. Tomorrow, we get industrial production at 9:15 am and consumer sentiment at 10:00 am.