The down trending medium term weekly cycles continue to bring down S&P futures closing bearish today at 2749. If we don't immediately close back above 2750 then next we test 2727 - a break of it will lead to 2706.
US Dollar Index daily up trending cycle continue to do its fantastic work taking futures to 97.66 finally closing at 97.56. Please see what we wrote in our last weekend post. ECB is not what moves the market. It's the market cycle that makes ECB announce what it did - there is really no free choice. There is heavy over-head resistance. However, the uptrend hasn't run its course and there is time available to clear them.
Tomorrow, we get employment and housing starts at 8:30 am.