Bad news comes when cycles are down trending.
But either case, news always lags the cycle!
If you know the cycle apriori, you can anticipate the news and be prepared for it in advance rather than being continuously glued to media and markets to hear from them.
Today, down trending short-term hourly cycle (bottoming around <SP_HH>) did it's job again. It's impact is amplified when longer term cycles are down. Hourly and 4-Hourly trend resistance is at <SP_HT1> and <SP_HT4> in S&P futures. On a short term basis, situation is very oversold but still can get more oversold. Only a decisive push above hourly trend will lead to reversal.
A break below <SP_X>, should lead to test of <SP_Y>. Weekly strong trend support is at <SP_WT1> now and would be hard to break in first shot.
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| S&P Futures - 05/13/2019 |