SPX is down over 1% in the Premarket. Today is day 69 in the current Master Cycle. The nearest Pivot is 68.8, so it may have made the Pivot at yesterday’s close. That is why I was uncertain on how the Pivot would work.

There may be some attempt to rally SPX prior to the open, but there is no liquidity in the hedge funds’ favorite market, the E-mini.

Initial weekly Jobless Claims plunged to 2000 lows, which won’t help the investors clamoring for more QE.

Treasury yields may have made their Master cycle low yesterday on day 254 of the Master Cycle. This means higher yields may intensify the decline in stocks.

As reported last night, gold may have made its corrective high as well.

The US Dollar appears to be moving higher, as well.

Prepare for an extra volatile day as the market makes even larger moves.

Regards,

Tony

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