S&P Hourly and 4-Hourly trend level moves to <SP_HT1> and <SP_4HT1> respectively.
Hourly cycles bottomed early today with S&P futures trading as low as 2729. This was an optimal time to temporarily cover shorts (from previous retracement at 2893) and go in wait and watch mode. With divergence setup in both hourly and 4-hourly charts, S&P tried to get past weekly trend level 2763 but failed. Let's see how far on the upside can S&P push next. Possibly, we chop around here until <SP_Day_Hour>.
Our short-term bias is still negative until <SP_Day> unless there is a decisive push above 2763.
Today was an important day for US Dollar. With action on last friday and today, most would have figured by now.