We got the early anticipated weakness into the hourly cycle bottom and S&P futures held the daily trend level and reversed to close at 2808. Now, hourly cycles are up trending going into mid-week.
US Dollar Index closed slightly lower at 96.01. Buy signal continues. However, still one more day remaining for cycles to bottom, hopefully we can hold 95.79 until then.
For February, Chicago Fed National Activity Index dropped by -0.29 (January's drop was -0.43) indicating economic slowdown. Tomorrow, we get housing starts at 8:30 am, home price indices at 9:00 am, consumer confidence at 10:00 am.